10月LPR出炉！连续5个月不变

Core Viewpoint - The People's Bank of China announced that the Loan Prime Rate (LPR) for both 1-year and 5-year terms remains unchanged at 3.0% and 3.5% respectively, marking the fifth consecutive month of stability in LPR rates [1][4]. Group 1: LPR Stability - The stability of the LPR aligns with market expectations, indicating no changes in the pricing basis for October [3][4]. - The low net interest margin for commercial banks reduces the incentive to lower LPR quotes, as banks face slightly increased financing costs in the money market [4]. Group 2: Loan Rates - Current corporate and personal loan rates are at low levels, with the weighted average interest rate for new corporate loans at approximately 3.1%, down about 40 basis points year-on-year, and for personal housing loans also at about 3.1%, down about 25 basis points year-on-year [4]. Group 3: Future Outlook - Experts suggest that there is still room for LPR to decline, particularly as measures to boost domestic demand and stabilize the real estate market are implemented [4]. - The central bank may consider using tools such as reserve requirement ratio cuts and restoring government bond trading to inject long-term liquidity into the banking system, potentially leading to further reductions in LPR in the coming months [4].