Group 1 - The People's Bank of China (PBOC) has maintained the Loan Prime Rate (LPR) at 3.0% for 1-year and 3.5% for 5-year and above, indicating a focus on the implementation of previously announced monetary policies rather than introducing new measures [1] - The current market liquidity is stable, and the use of structural policy tools such as relending and rediscounting is emphasized to improve the efficiency of fund utilization [1] - The bond market has experienced fluctuations, with the 10-year government bond yield rising above 1.8%, reflecting market expectations for the PBOC to resume government bond trading operations [1] Group 2 - As of the end of Q2 2025, the net interest margin for commercial banks is reported at 1.42%, showing a slight decline from the previous quarter [2] - The average interest rate for newly issued corporate loans in August was approximately 3.1%, which is about 40 basis points lower than the same period last year, indicating a trend of low financing costs [2] - The macroeconomic outlook suggests that further liquidity easing will be necessary to support market expectations, especially following the Federal Reserve's interest rate cuts [2]
9月国内LPR“按兵不动”
Qi Huo Ri Bao Wang·2025-09-22 23:24