年内首次结构性“降息”落地

Core Viewpoint - The People's Bank of China has implemented its first structural interest rate cut of the year, reducing the re-lending and re-discount rates by 0.25 percentage points to stimulate credit growth in key sectors and support economic restructuring [4]. Group 1 - The interest rate cut will take effect from January 19, 2026, making borrowing from the People's Bank of China cheaper for banks [4]. - The new rates for re-lending to support agriculture, small enterprises, and other key areas are set at 0.95% for 3-month, 1.15% for 6-month, and 1.25% for 1-year [4]. - The re-discount rate is now 1.5%, while the mortgage supplementary loan rate is set at 1.75%, and the rate for special structural monetary policy tools is 1.25% [4].