美联储再度降息，部分银行美元存款利率仍超3%

Core Viewpoint - The Federal Reserve has lowered the federal funds rate by 25 basis points to a range of 3.50% to 3.75%, aligning with market expectations. This has prompted banks and financial institutions to promote dollar deposits and investment products, with some offerings showing annualized yields in the "3s" and approaching 4% [3][4]. Group 1: Dollar Deposit Rates - Despite the overall downward trend in dollar deposit rates following the Fed's rate cuts, many institutions are still offering relatively high-yield dollar products. For instance, Bohai Bank offers a 1-year dollar fixed deposit at an annualized rate of 3.10%, while Hengfeng Bank maintains a rate of 3.30% for the same term [5]. - Some city commercial banks have introduced even more attractive rates, with 1-year rates reaching up to 3.9% and minimum deposit amounts as low as $1,000. For example, Xian Bank offers a 1-year rate of 3.98% [6]. - Foreign banks are also promoting competitive short-term rates, with Standard Chartered Bank offering rates up to 3.6% for 1-month and 3-month deposits, and Hang Seng Bank maintaining a 1-month rate of 4% [6]. Group 2: Investment Products - Several wealth management subsidiaries are actively promoting dollar-denominated fixed-income products. ICBC Wealth Management's "Global Add Benefits" product has achieved an annualized yield of 4.97% since its inception, standing out among similar offerings [6]. - Analysts suggest that while the appeal of dollar fixed-income assets remains strong in the short term, future yields may fluctuate with market interest rate adjustments [6]. Group 3: Risks and Market Outlook - Since September, the Fed has cut rates three times, totaling 75 basis points, leading to increased scrutiny on the future trajectory of dollar deposit rates and asset yields. The recent appreciation of the RMB against the dollar is also impacting the actual returns on dollar investments [8]. - Analysts predict a potential "wait-and-see" period for the Fed after the recent rate cut, with expectations of a pause in further actions until early 2026 to assess the economic impact of previous cuts [8]. - The RMB has appreciated by 3.24% against the dollar this year, with a 1.88% increase over the past six months and 0.83% in the last month. This trend is expected to continue into 2026, potentially leading to foreign exchange losses for investors holding dollar assets [8][13].