招联首席研究员董希淼：预计2026年存款利率和政策利率将进一步下降

Core Viewpoint - The Central Economic Work Conference held on December 10-11 in Beijing outlined the economic work for 2026, emphasizing the continuation of a moderately loose monetary policy and the flexible and efficient use of various policy tools such as reserve requirement ratio (RRR) cuts and interest rate reductions [1] Monetary Policy - The conference highlighted the importance of promoting stable economic growth and reasonable price recovery as key considerations for monetary policy [1] - It was stated that the monetary policy will maintain ample liquidity and facilitate the transmission mechanism of monetary policy to support key areas such as domestic demand expansion, technological innovation, and small and medium-sized enterprises [1] - Chief researcher Dong Ximiao from Zhailian predicts that in 2026, deposit rates and policy rates are expected to decline further, with one to two RRR cuts and interest rate reductions likely to be implemented [1] - The focus will also be on utilizing structural monetary policy tools to direct financial resources towards technological innovation, green development, and boosting consumption, while avoiding a "flood-like" monetary policy approach [1]