重磅！央行官宣：下调10个基点！

Core Viewpoint - The recent decrease in the Loan Prime Rate (LPR) by 10 basis points is expected to alleviate the interest burden on borrowers, particularly in the housing market, thereby promoting consumption and stabilizing economic growth [2][4][7]. Summary by Sections LPR Changes - The 1-year LPR is now at 3.00%, down from 3.10% last month, while the 5-year LPR is at 3.50%, down from 3.60% [1][2]. - The reduction in LPR is a direct result of the central bank's earlier policy rate cut of 10 basis points, which aligns with market expectations [4]. Impact on Borrowers - The decrease in the 5-year LPR will reduce the monthly repayment amount for borrowers. For a mortgage of 1 million yuan over 30 years, the monthly payment will decrease by approximately 54.88 yuan, leading to a total interest savings of about 19,700 yuan [2][6]. - Existing borrowers with loans tied to LPR will benefit from this reduction during their next loan repricing date, enhancing the affordability of housing loans [7]. Economic Implications - The LPR's decline is anticipated to lower financing costs for the real economy, supporting consumption and investment [4][5]. - The average interest rate for new corporate loans was approximately 3.2% in April, down about 50 basis points year-on-year, while the average for personal housing loans was around 3.1%, down about 55 basis points [4]. Monetary Policy Context - The recent adjustments in deposit rates by major banks, which align with the LPR changes, create room for banks to lower their LPR quotes, thus easing net interest margin pressures [5]. - The central bank's supportive monetary policy stance is expected to continue, with recent adjustments in housing provident fund loan rates further benefiting borrowers [8].