随着央行继续降息，新一轮全国性的存款利率下调有望来临。 近几个月，从梅州客商银行、中关村银行等多家中小银行，到网商银行等互联网银行，再到工行、农行、中行、建行、交行、邮储六大国有银行，都陆续下 架了5年期定期存款或大额存单产品。 中小银行更是这轮存款利率下调的急先锋，最高降幅达80个基点。银行长期存款产品"退潮"趋势越来越明显。 比如最近土右旗蒙银村镇银行不仅下调1年期、2年期、3年期存款利率，而且还取消5年期定存。 不过最近几月这轮存款利率下调，仍然属于中小银行分散式下调的范畴，不属于以中农工建等国有大行引领下的全面性存款利率下调。 另一方面说明国家对科技股、ETF的重视。这里面的含意是ETF已经成为储蓄资金入市的重要渠道，科技股成为储蓄资金的重要投资资产。 目前国有大行1年期存款利率已经降到0.95 %的低位，2年期存款利率是1.05%。接下来2年期存款利率也有望破"1"。存款利率的下调引导的是居民资金入 市。 而今年早些时候，监管也在推动机构资金入市。比如今年初监管明确：其中从2025年起每年新增保费的30%用于投资A股，未来三年公募基金持有A股流通 市值每年至少增长10%。 存款利率下调的意义不仅是降 ...

Core Viewpoint - The recent trend of declining deposit rates, particularly among small and medium-sized banks, is expected to lead to a nationwide reduction in deposit rates, influenced by central bank policies aimed at stimulating economic growth [2][4][6]. Group 1: Deposit Rate Changes - Small and medium-sized banks have led the recent reduction in deposit rates, with some banks reducing rates by up to 80 basis points [2]. - For instance, the Tongyu County Mengyin Village Bank has not only lowered rates for 1-year, 2-year, and 3-year deposits but has also eliminated 5-year fixed deposits [3]. - The current reductions in deposit rates are characterized as a decentralized approach among small and medium-sized banks, rather than a comprehensive reduction led by major state-owned banks [4]. Group 2: Central Bank Policies - The central bank is expected to lower interest rates further to achieve the 2026 economic growth target, with a potential LPR (Loan Prime Rate) cut anticipated in January [6]. - The central bank's third-quarter report emphasized the need to strengthen interest rate policy execution and supervision to lower banks' funding costs and promote a decrease in overall financing costs [7]. Group 3: Implications of Lower Deposit Rates - Lower deposit rates are significant not only for reducing banks' funding costs but also for guiding savings into the market [8]. - As deposit rates decline, some funds are likely to shift from low-yield deposits to equity markets, such as stocks [9]. - The government's unprecedented support for the stock market, including the approval of the first batch of seven AI-themed ETFs, indicates a strong commitment to stabilizing the market and promoting technology stocks as key investment assets [10]. Group 4: Investment Trends - The emergence of more ETFs suggests a shift in residents' investment preferences from individual stocks to ETFs, indicating a broader trend in investment behavior [11]. - Currently, the 1-year deposit rate for major state-owned banks has fallen to 0.95%, with the 2-year rate at 1.05%, and further declines are expected [11]. - The dual entry of both resident and institutional funds into the market signifies a significant change in investment patterns, moving away from traditional bank deposits and real estate towards index funds and equity markets [12].