年内首次结构性“降息”落地，进一步助力经济结构转型优化

Core Viewpoint - The People's Bank of China has announced a reduction in the re-lending and rediscount rates by 0.25 percentage points, effective January 19, 2026, which will lower borrowing costs for banks and encourage credit allocation in key sectors, aiding in the optimization of economic structure [1] Group 1: Interest Rate Changes - The new re-lending rates for agricultural and small business support will be 0.95% for 3 months, 1.15% for 6 months, and 1.25% for 1 year [1] - The rediscount rate will be set at 1.5%, while the mortgage supplementary loan rate will be 1.75% [1] - The rate for specialized structural monetary policy tools will be 1.25% [1]