密集降息！中小银行长期存款利率迈入“1”字头

Core Viewpoint - Since March, small and medium-sized banks in regions such as Xinjiang, Yunnan, and Shanghai have significantly reduced their fixed deposit interest rates, with cuts ranging from 5 to 80 basis points across various types of banks, including city commercial banks, rural commercial banks, village banks, and private banks [1][2]. Group 1: Interest Rate Adjustments - The adjustments cover all terms, with notable reductions in medium to long-term fixed deposit rates, which have generally fallen below "2" and into the "1" range [2][3]. - Some banks have lowered long-term deposit rates to below 1.5%, with significant cuts observed; for instance, Changji National Village Bank reduced its three-year and five-year rates from 2.2% to 1.4%, marking an 80 basis point drop [3][4]. - Short-term deposit rates have also decreased, with one-year and two-year rates down to 1.2% and 1.3%, respectively, while three-month and six-month rates have fallen below 1% [3][4]. Group 2: Frequency and Magnitude of Rate Cuts - Certain small and medium-sized banks have made multiple rate adjustments in a short period, indicating a high frequency of changes; for example, Nanjing Pukou Jingfa Village Bank issued three announcements within a month, with significant reductions in rates [4][5]. - The magnitude of the cuts is substantial, with some rates dropping by 50 to 80 basis points, leading to a narrowing gap between long-term and short-term rates, and even instances of rate inversion [5]. Group 3: Future Outlook on Rate Adjustments - Analysts suggest that there is still room for further reductions in deposit rates, driven by pressures on banks' net interest margins and the need to lower funding costs [7]. - The average cost of deposits for listed commercial banks is projected to decline, with significant reductions noted across various bank types, including state-owned and joint-stock banks [8]. - The trend indicates a potential for deposit rates to approach zero, particularly as some banks have already set their rates at or near this level [8]. Group 4: Diverging Trends - Despite the overall trend of rate cuts, a few banks have raised their deposit rates, such as Xin'an Rongxing Village Bank, which increased personal deposit rates from 1.44% to above 1.5% [6].