结构性降息0.25个百分点！央行最新发布会释放重要信号

Core Viewpoint - The People's Bank of China (PBOC) is implementing monetary policy measures to support high-quality economic development, including a 0.25 percentage point reduction in various structural monetary policy tool rates to enhance bank lending in key areas [1][2]. Group 1: Policy Measures - The PBOC will lower the interest rates of various structural monetary policy tools by 0.25 percentage points, with the one-year re-lending rate decreasing from 1.5% to 1.25% [2]. - The new rates for re-lending and re-discounting will be 0.95%, 1.15%, and 1.25% for 3-month, 6-month, and 1-year terms respectively, with the re-discount rate set at 1.5% [2]. Group 2: Economic Impact - The reduction in rates aims to lower financing costs in specific sectors, encouraging banks to lend at lower rates to small and micro enterprises, technological innovation, and green transformation [4]. - The targeted approach of structural monetary policy tools is expected to improve the efficiency of fund utilization and enhance financial services for the real economy [4]. Group 3: Future Monetary Policy Outlook - There is still room for further reductions in the reserve requirement ratio, with the current average at 6.3%, indicating a potential decrease of about 1.3 percentage points [5][6]. - The PBOC is expected to maintain a moderately loose monetary policy, focusing on the integration of existing and new policies to create a conducive financial environment for stable economic growth [7][8].