LPR报价七个月不变，专家：新一轮降息降准或春节前落地

Group 1 - The People's Bank of China (PBOC) has maintained the Loan Prime Rate (LPR) at 3.0% for the 1-year term and 3.5% for the 5-year term since June, indicating a stable monetary policy environment [1][3] - The central economic work conference has set the tone for next year's monetary policy, emphasizing the need for a moderately accommodative approach to support economic stability and reasonable price recovery [4][5] - Analysts predict that the window for interest rate cuts may open in the first quarter of 2026, with potential reductions in both interest rates and reserve requirements [3][5] Group 2 - The PBOC's recent meeting highlighted the importance of maintaining ample liquidity and supporting the real economy through various monetary policy tools, while ensuring a stable RMB exchange rate [4][6] - The expected policy rate cuts could lead to a decrease in LPR, further stimulating internal financing demand and countering external economic pressures [6][5] - The shift from investment-driven to consumption-driven economic growth is reflected in the declining loan growth rates, indicating a transition towards high-quality development [6][5]