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After 15 days, the people's Bank of China restarted the reverse repo on Monday, and the seven-day winning interest rate fell 5 basis points (BP) to 2.50%, the first reduction in more than four years, and the second adjustment of policy interest rate in the month after the MLF interest rate was lowered at the beginning of the month, which made the November loan market price quotation rate (LPR) to be announced on Wednesday lower without any suspense, but the range and different term adjustment methods were slightly different.
Industry insiders also believe that China's economy has not recovered from the trough. The central bank has lowered interest rates such as open market reverse repo and medium-term lending facility (MLF) to further transmit to the real economy through reducing the cost of financial institutions, so as to achieve reverse cycle regulation.
Wang Qing, chief Macro Analyst of Dongfang Jincheng, said that the reverse repo rate in the open market was lowered, which is expected to reverse the marginal increase of interest rates in the money market in the previous four months, and the interest rates of dr007 (inter-bank seven-day repo rate) in August and October have been higher than that in the same period of last year, and the broad monetary momentum is expected to recover.
"On the one hand, it will reduce the average marginal capital cost of financial institutions, promote the one-year LPR to resume the downward trend, and reduce the actual loan interest rate of enterprises; on the other hand, under the background of the increasing downward pressure of the current macro-economy, the regulators will release clear signals of increasing the intensity of counter cyclical policy adjustment, which will help stabilize market confidence and the macro-economic operation in the fourth quarter." He pointed out.

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