The Central Bank Raised Interest Rates By Two Percentage Points This Year By 0.25 Percentage Points.
People's Bank of China
In April 5th, the financial institutions' benchmark interest rates for one-year loans and deposits were increased by 0.25 percentage points respectively from April 6th onwards.
Other rates of deposit and loan interest rates and individual housing provident fund loan rates are adjusted accordingly.
Among them, the loan interest rate over three years increased by 0.20 percentage points, less than the deposit interest rate of the same period.
After the increase, the benchmark interest rates for one-year loans and loans of financial institutions were raised to 3.25% and 6.25% respectively, and the interest rate for demand deposits increased by 0.1 percentage points to 0.50%.
This is the second central bank's interest rate hike this year, and the fourth time since the current round of interest rate hike.
Analysts believe that after the Qingming Festival, the rate hike is in line with market expectations, indicating that the current price pressure is still relatively large.
Lu Zheng commissar, senior economist at Xingye Bank believes that
inflation
Is still the primary task of macroeconomic regulation and control, monetary policy needs to maintain the necessary strength is the main reason for this increase in interest rates.
Judging from the international economic situation, the world food and Agriculture Organization (FAO) expects that the price of crude oil will probably remain high in the future as crude oil prices stand above $100.
Domestic inflation is still not optimistic, and the market is expected to increase by about 5.2% in March CPI.
In addition, although PMI shows that the future economic growth rate may slightly slow down, but overall growth is relatively strong, the first quarter China's economic growth rate is expected to be around 9.5%, there is no need to worry too much.
Increase interest
It will have a big negative impact on economic growth.
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