中国人民银行授权全国银行间同业拆借中心公布，2022年2月21日贷款市场报价利率（LPR）为：1 年期LPR为3.7%，5年期以上LPR为4.6%。二者均保持不变，符合预期。 招联金融首席研究员董希淼表示，2月15日，央行开展3000亿元中期借贷便利（MLF）操作和100 亿元公开市场逆回购操作，利率分别为2.85%、2.10%，均与上一次持平。LPR由两部分组成，即公开市 场操作利率与加点，其中公开市场操作利率主要指MLF利率。一般而言，如果MLF未变，LPR调整的可 能性就较小。 展望未来，业内人士普遍认为，企业融资成本下行仍有空间。东方金诚首席宏观分析师王青表示， 2022年1月，1年期和5年期以上LPR报价分别下调0.1和0.05个百分点，将带动企业贷款利率进一步下 降，个人住房贷款利率也将出现由升转降的拐点，这将对稳住房地产市场起到一定支撑作用。"当前仍 处于经济下行压力期，未来通过LPR报价下调来降低企业融资成本仍有空间。" 董希淼也说，一段时间来，央行通过全面降准及调降政策利率，引导市场利率下行，LPR已经连续 两个月下降，创下纪录。因此，本月政策利率及LPR保持不变，符合预期。但这并不意味着实 ...

Core Viewpoint - The report from Rong360 Digital Technology Research Institute indicates a significant decline in bank deposit rates, with medium to long-term rates entering the "1 era," reflecting a broader trend of interest rate cuts aimed at stimulating economic growth and reducing corporate financing costs [1][4]. Group 1: Deposit Rate Trends - In May, the average interest rates for various term deposits showed a downward trend, with the 3-month average rate at 1.004%, 6-month at 1.212%, and 1-year, 2-year, 3-year, and 5-year rates at 1.339%, 1.428%, 1.711%, and 1.573% respectively [3]. - Compared to the previous month, the 3-month rate decreased by 24.3 basis points, while the 5-year rate was notably lower than the 3-year rate by 0.14 percentage points [3]. - This marks the first large-scale interest rate adjustment since 2025, with state-owned banks leading the way in reducing deposit rates, resulting in most 1-year fixed deposit rates falling below 1% [3]. Group 2: Monetary Policy and Economic Context - Analysts suggest that the central bank will continue to implement a moderately loose monetary policy to lower corporate financing costs and stimulate market activity, which may lead to further declines in deposit rates [4]. - The ongoing decline in deposit rates is seen as a strategy to maintain reasonable net interest margins for banks while ensuring the stability of the banking system [4]. Group 3: Impact on Banking Operations - The decline in deposit rates has led to a noticeable drop in the sales volume of fixed deposits, prompting banks to adopt aggressive strategies to attract deposits, including promotional activities [6][7]. - Regulatory bodies have issued warnings against chaotic deposit-raising practices, emphasizing the need for banks to focus on stable growth rather than merely increasing market share [8]. - Analysts highlight that the pressure from various financial products is driving banks to innovate in their customer engagement strategies, aiming to create a comprehensive financial service ecosystem [8].