China News Agency, Beijing, November 21 (Reporter Pang Wuji) On the 21st, the People's Bank of China authorized the National Interbank Funding Center to announce the latest loan market quotation rate (LPR).

The data shows that the 1-year LPR is 3.65%, and the LPR of more than 5 years is 4.3%, both unchanged from the previous month.

Since September, the LPR has remained unchanged for three consecutive months.

　　Wen Bin, chief economist of China Minsheng Bank, pointed out that in November, the quotation of LPR with a period of one year and a period of more than five years remained unchanged. An important influencing factor was that the MLF (medium-term lending facility) interest rate did not change that month.

　　Wen Bin said that the MLF interest rate is affected by multiple internal and external factors.

From the perspective of external factors, the interest rate hike path of developed economies will continue in the short term, the importance of China's exchange rate stabilization is still high, and the room for policy easing is constrained.

From the perspective of internal factors, the adjustment and optimization of domestic epidemic prevention policies in November and the substantial changes in real estate financing policies have formed support for market expectations and the improvement of the real economy, and the pressure to increase the aggregate policy in the short term has decreased.

　　Pang Ming, Chief Economist and Director of Research Department of Jones Lang LaSalle, also pointed out that since the general direction of tightening monetary policy in major economies has not changed, and the policy weight of keeping the RMB exchange rate stable at a reasonable and balanced level has not changed, coupled with the With the emphasis on the possibility of rising inflation in the future, the factors that restrict China's monetary policy from lowering the policy interest rate still exist.

　　He believes that in the next period of time, the central bank is expected to stabilize the cost of bank liabilities through incremental operations of aggregate tools and adjust deposit rates, and then promote it to reduce corporate financing and personal consumption credit costs to stimulate effective social demand.

　　Although the LPR with a period of more than 5 years as a reference for mortgage interest rates has not been adjusted, mortgage interest rates across China continue to decline slightly.

According to the mainstream housing loan interest rate data of key cities released by the Shell Research Institute on the same day, the mainstream first-home loan interest rate in 103 key cities monitored by the agency was 4.09%, a decrease of 3 basis points from the previous month, and the second-home loan interest rate was 4.91%. Last month was basically the same; the average loan cycle in November was 26 days, which was basically the same as last month.

　　Liu Lijie, a market analyst at the Shell Research Institute, said that after the previous mortgage rate cuts, the mortgage rates in most cities fell to historical lows, and the scope of the rate cuts this month was relatively small. Only 14 cities had adjusted their mortgage rates, and the decline in first-home loan rates was the main one. .

As of November 18, the mainstream interest rate of first-home loans in 18 cities within the monitoring range of the Shell Research Institute has dropped to "3 prefixes" (less than 4%).

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