Core Viewpoint - Recent announcements from various local small and private banks indicate a new round of deposit rate cuts, primarily affecting fixed-term deposit rates, as banks adapt to changing market conditions and customer expectations [1][2]. Group 1: Deposit Rate Cuts - Numerous small and private banks across regions such as Henan, Yunnan, Guangdong, and Hainan have recently lowered their deposit rates, with some banks reducing rates by as much as 80 basis points [2]. - For instance, Pingyang Pudong Village Bank has reduced its three-year and five-year fixed deposit rates from 2.1% and 2.15% to 1.3% and 1.35%, respectively [2]. - Shanghai Huari Bank has initiated its seventh round of rate cuts this year, reducing its three-year fixed deposit rate by 15 basis points to 2.15% [2]. Group 2: Changes in Deposit Products - Some banks, such as Guizhou Wuchuan Rural Commercial Bank, have stopped the automatic renewal feature for high-interest deposit products like notice deposits and zero-balance savings [3]. - This shift indicates a broader trend of banks adjusting their product offerings in response to declining deposit rates [3]. Group 3: Future Outlook - Experts predict that there is still room for further interest rate cuts, as the downward trend in deposit rates continues [4]. - The People's Bank of China (PBOC) has maintained the Loan Prime Rate (LPR) steady for five consecutive months, with the one-year LPR at 3% and the five-year LPR at 3.5% [4]. - Analysts expect potential new rounds of interest rate cuts and reserve requirement ratio reductions from the central bank, which could lead to lower loan rates for businesses and consumers [4]. Group 4: Challenges for Commercial Banks - The decline in deposit rates and the rise of investment awareness among residents have led to a phenomenon termed "deposit migration," posing challenges for commercial banks [5]. - Experts suggest that banks should shift their focus from merely attracting deposits to enhancing customer service and product offerings to retain client funds and generate management fees [5].

将通过利率自律机制引导商业银行相应下调存款利率。市场预计，这意味着新一轮存款利率调降即将开 启。 政策性降息今日落地。 5月7日，央行行长潘功胜在国新办新闻发布会上宣布，为实施好适度宽松的货币政策，加力支持实体经 济，从5月8日起，公开市场7天期逆回购操作利率由此前的1.50%调整为1.40%，下调0.1个百分点。 5月8日，央行以固定利率、数量招标方式开展了1586亿元7天期逆回购操作，操作利率1.40%，投标量 1586亿元，中标量1586亿元。Wind数据显示，当日无逆回购到期，据此计算，单日净投放1586亿元。 这是自去年9月27日，7天期逆回购操作利率从1.7%下调至1.5%后的又一次降息。 此次降息被视为积极贯彻落实中央政治局会议要求的体现。 4月25日，中央政治局会议要求"加紧实施更加积极有为的宏观政策，用好用足更加积极的财政政策和适 度宽松的货币政策""适时降准降息，保持流动性充裕，加力支持实体经济"。 权威专家表示，此次降息充分体现了适度宽松的货币政策立场，是支持稳就业、稳企业、稳市场、稳预 期的有力举措，"降息充分体现逆周期调节力度加大"。 近一段时间，国内PPI持续处于负增长区间，CPI ...