zyngapokerchips| May MLF equivalent parity continued in the industry: In line with market expectations, the May LPR quotation remained stable
editor 2024-05-15 14:26:09 Finance 37
On May 15, the people's Bank of China launched the 125 billion yuan one-year interim loan facility (MLF) operation on Wednesday, and the winning interest rate was maintained at 2.Zyngapokerchips.5% unchanged, as there are 125 billion yuan of MLF due on the same day, MLF achieved the same amount of sequel this month, ending the previous two consecutive months of shrinking sequel.
Zhou Maohua, a macro researcher in the Financial Markets Department of Everbright Bank, said that the continuation of MLF at equal volume parity is in line with market expectations. The main reason is that the current market liquidity is relatively loose, which is relatively lower than the cost of inter-bank deposit certificate capital, and the interest rate of MLF capital is on the high side. Due to the strong credit impulse in the first quarter of the year, the demand for credit in the real economy fluctuates in the short term. All this has led to a lack of demand for MLF this month.
"MLF interest rates remain stable, mainly because the financing cost of the real economy is in a reasonable range, and when the global market is volatile, domestic policies need to take into account the internal and external equilibrium."ZyngapokerchipsHe talked about.
Zhou Maohua expects LPR interest rates to remain stable this month. At present, some banks are facing greater pressure on the net interest margin, coupled with the current domestic policy interest rates are basically in line with potential economic growth, and MLF interest rates remain stable this month. At the same time, the stability of domestic policy interest rates does not hinder the reduction of comprehensive financing costs in the real economy. In China, we use quantitative tools such as structural tools to cooperate with interest rate reform to guide financial institutions to reasonably benefit the real economy.