Central Bank: Will continue to promote a marked decline in lending rates

(Fighting New Crown Pneumonia) The People's Bank of China: Will Continue to Promote Significant Downward Lending Rates

China News Agency, Beijing, March 15th (Reporter: Wei Wei) On the 15th, the State Council's joint prevention and control mechanism held a press conference to play a role in refinancing and rediscounting policies to support epidemic prevention and control and resume work and production.

Sun Guofeng, director of the Monetary Policy Department of the People's Bank of China, said at the press conference that in the next step, the central bank will continue to take a variety of measures to promote a marked decline in loan interest rates and support the resumption of production and economic development of enterprises. Photo by Sheng Jiapeng of China News Agency

Sun Guofeng, director of the Monetary Policy Department of the People's Bank of China, said at the press conference that in the next step, the central bank will continue to take a variety of measures to promote a marked decline in loan interest rates and support the resumption of production and economic development of enterprises.

The first is to use a variety of monetary policy tools to maintain reasonable and adequate liquidity and provide a good liquidity environment for reducing corporate financing costs.

The second is to continue to advance the loan market quoted interest rate (LPR) reform, orderly promote the conversion of existing floating interest rate loan pricing benchmarks, guide and improve the internal transfer pricing (FTP) system of commercial banks, embed LPR into the bank's internal interest rate mechanism, and improve LPR. The transmission mechanism continues to unleash the potential of reforms to promote lower real interest rates on loans.

The third is to guide the banking system to properly profit from the real economy, reduce corporate financing costs, stimulate the vitality of micro-subjects, and smooth the virtuous cycle of economics and finance.

The fourth is to continue to play the role of the benchmark deposit interest rate as the "ballast stone" of the entire interest rate system. At the same time, it will reduce the innovative products of non-standard deposits of banks, incorporate the structured deposit guarantee rate into macro-prudential assessment, maintain the order of deposit market competition, and stabilize bank liabilities. End cost. (Finish)