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The central bank takes measures to stabilize the property market, implementing simultaneous interest rate cuts, reserve requirement ratio cuts, and lowering the mortgage interest rate.
① The central bank announced today the implementation of three major measures: a reduction in reserve requirements, a decrease in interest rates, and a cut in provident fund rates, thereby providing substantial Bullish support for the real estate market; ② The interest rate for the first home loan exceeding 5 years has dropped to 2.6%, further widening the interest rate difference between provident fund loans and commercial loans, which will be more beneficial for first-time homebuyers; ③ "In the future, more supportive real estate policies will be implemented successively, and the loan support for both enterprises and individuals will continue to increase."
A structural interest rate cut is still a rate cut! The central bank officially announces the first comprehensive reduction in the structural MMF policy tool interest rate, saving more than 15 billion yuan in bank funding costs each year.
① The central bank announced a 0.25 percentage point reduction in the rate of structured MMF monetary policy tools. Industry insiders stated that structural interest rate cuts are also interest rate cuts, which help strengthen the policy incentives for commercial Banks. ② The central bank proposed to establish 500 billion yuan for re-loaning to service Consumer and Retirement, increase the re-loaning quota for Technology innovation and technological transformation, and increase the re-loaning quota for supporting agriculture and small businesses, guiding Financial Institutions to accelerate loan disbursement in related fields.
The central bank: Starting from May 15, the reserve requirement ratio for Financial Institutions will be lowered by 0.5 percentage points.
The People's Bank of China has decided to lower the reserve requirement ratio for Financial Institutions by 0.5 percentage points (excluding Financial Institutions that have already implemented a 5% reserve requirement ratio) starting from May 15, 2025, and to lower the reserve requirement ratio for Autos financing companies and financial leasing companies by 5 percentage points.
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Looking back at the market situation before the festival, the market has been in a state of fluctuating consolidation, and the atmosphere of market observation remains quite strong.
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