129836519499531250_87People's daily: after the rate cut to stimulate the recovery of the property market will not fully rebound
Adjustment of the benchmark one-year lending and deposit rates in recent years of growing market expectations, cut boots fell to the ground. The evening of June 7, the Central Bank announced that, as of June 8 down financial institutions RMB benchmark deposit and lending rates. Benchmark one-year deposit rate financial institutions 0.25%, benchmark one-year lending rate 0.25%。
After the rate cut, one-year deposit and loan interest rates and 3.25%, respectively. This is 3.5 years to cut interest rates for the first time.
Last cut dates back to December 23, 2008, when the financial institutions Central Bank benchmark one-year lending and deposit rates by 0.27% respectively. Interest rate cuts can be treated as "steady growth" policy component of an enablingOn expanding investment demand, sharp cut in interest rates may not have space in the future "the rate cut was introduced recently, increase the intensity of preconditioning fine-tuning, should be an important part of the expanding needs of a range of policy measures. Releasing a strong signal: trustworthy growth in a more important position. Will play an important role: helps increase investment demand ", Bank of communications, the Chief economicsLianping panshan (micro-blogging) analysis. At present, China's economic performance overall smooth, but downward pressure remains greater. First quarter of the year, economic growth in 8.1%, four seasons of growth than last year down 0.8%, it is in 2011 for 4 consecutive fifth quarter growth after a slowdown in economic growth in the first quarter fell, fell more than expected. Recently published in May ChinaManufacturing PMI to fall sharply, approaching economic contraction in manufacturing again. Lianping panshan admits: "we expect the forthcoming macroeconomic data May remain ' ugly ' in the second quarter, economic growth is likely to fall below 8%, is about 7.8%. If inertial decline in economic growth
SWTOR Power Leveling, business losses due to insufficient effective demand growing, unemployed lossIndustry also increased. "Since the beginning of this year, under the premise of monetary policy while maintaining the overall moderate tone, operations continue to fine tune towards the release further liquidity on money market interest rates and lending rates have seen a downward trend. "Cut interest rates further facilitated lending rates down, helps reduce corporate financing costs, enhance their confidence in investments in the future, in order to spreadInvestment demand, economic growth steady at reasonable intervals ", lianping panshan said.
Finance BA shusong, Deputy Director of the Institute of development research center of the State Council (micro-blogging) were of the view that interest rate cuts can also be positive financial policy to "steady growth", such as the debt of the Central Government, local government debt for investment, provide a relatively low rates of monetary conditions. Rate cut not only necessary but also feasible。
"We anticipate May CPI inflation to fall back to 3.1%, 6 July will continue descending even ' 3-breaking ', price stability for interest rate cuts lifted the worries of the situation", lianping panshan said. Lianping panshan admits, CPI up from the four quarters of the year are likely to swing around again into the upward path. "As a result, sharp cut in interest rates may not have space in the future, it is possible toInterest only this once. "Large upper and lower loan interest rates adjust deposits interest rates meaning depositors is likely to result without loss, cuts is still expected to maintain interest rates after the Central Bank cut interest rates also had an important" point ", that is in a rate cut at the same time, the Central Bank announced financial institutions deposit interest rate floating range adjustment at the top of the benchmark interest rate of 1.1 times times,Adjust the minimum lending rate floating range to 0.8 times times the benchmark interest rate.
"This is essentially in a gradual manner in promoting the reform of interest rate market-oriented, in a sense, this initiative is more important than cutting interest rates, more far-reaching effects", BA shusong said. "Since in the 1990 of the 20th century, has been pushing interest rates marketization in our country, we're down to the last of the ' fortress' Deposit rates--the master of CAP, cannot exceed the benchmark interest rate govern the minimum loan interest rate, floating rate cannot exceed the benchmark interest rate of 0.9 times times. Upper and lower loan interest rates announced the expansion of deposit interest rates, although there is no minimum levels control fully open, but moving in the direction of marketization of interest rate and a solid step forward, also help banks, businesses, markets and gradually adapt to facilitateRate marketization ", lianping panshan said.
The other hand, the upper and lower lending rates adjust deposits interest rates will also benefit "optimized" interest rate effect:--the customer is likely to be not under the influence of interest rate cuts will not result in losses. Lianping panshan believes that two important sources are the deposits of credit and foreign exchange. Since the beginning of this year
Diablo 3 power leveling, incremental reduction of bank credit, foreign exchange trendsSlow down, leading to deposits growth difficult. In April, the Renminbi deposits declined 465.6 billion yuan, the per cent less 808 billion dollars. "Today, the competition is fierce in bank deposits, deposit limit extended to after the benchmark interest rate of 1.1 times times, we expect the vast majority of bank deposit interest rates rising to 1.1 times times the benchmark interest rate. In this way, although the benchmark one-year deposit interest0.25% rate drop, but depositors enjoy deposit interest rates are likely to float 10%, something like 3.575%, 3.5% 's benchmark interest rate is also higher than before the cuts. "After depositors worried about interest rate cuts" negative interest rate "is making a comeback, in response, lianping panshan said:" the CPI inflation this year is expected to 3.3%, interest rate cuts coupled with deposit interest rate cap to expand,Savers are likely to enjoy the 3.575% of deposit interest rates, after rate cut is expected to remain ' interest rates '.
"Has been the benchmark lending rate--cutting interest rates to fall, expansion of lower loan interest rates you may make loans interest rates to fall further, to further reduce corporate financing costs. BA shusong considered that, from a sample survey of the situation, the current loan interest rate to fall less than 5%, The interest rate cuts coupled with lower loan interest rates to expand, will benefit the larger loan demand, a positive role in expanding the demand for loans. Conducive to boosting confidence in the stock market for investors, was a "timely", but Outlook still cautious after Central Bank rate cut news, spread rapidly in global capital markets. Are transactions of Europe's main stock indexChonggao action, there is a clear.
Many a-shares investors believe that continuous days in a-share markets fell, constantly rotates the wheel adjust the low point when interest rate cuts for market confidence is an inspiration. Since the beginning of this week, under the influence of multiple factors, the a-share markets continued to adjust, the composite index this week 4th even before collecting four Yin line, and integer point below 2,300 points Thursday.Announced a rate cut at this time, for shareholders, was a "timely". CITIC building investment and Chief Strategist Liu Xianjun believes that recent market fell, concerns about macroeconomic trends are the main reasons. Recent major global economies have sent the loose monetary policy signals, our interest rate cuts should be saying is no accident. Relaxation of the policy will help global economy at the end ofStabilisation, which have a very large impact on the future direction of capital markets.
In addition, the lowering of interest rates helped the stock market valuations increase, boosting investor confidence, especially the interest rate-sensitive and high debt ratio of listed companies, will benefit more from the cut. Market analysis, current a-share market as a whole is trading at 13.9 times times, book only1.88 times times are at historically low levels. Industrial capital stock market certain differences still exist. According to the May net reduction of 5.755 billion yuan of industrial capital, with small net reduction of $ 3.1 billion, a net reduction of $ 1.3 billion, the gem, a net reduction of significantly increased. At the same time, States May achieve a net increase of listed companies of Chinese background, increase the totalFunds $ 1.8 billion, is the largest monthly increase since January this year. Liu Xianjun says, steady growth of the national macro-policy direction is clear, but the current market for subsequent policy expectations remain large differences exist, this means that the stock market may appear quite wide repercussions. In General, the years of structural adjustment, there is a bull market. Markets may be more policies to stimulate and increaseFind a balance between the long fall, to formation of trends up or down.
Fiscal and monetary policy might be more inclined to actively and capital markets brings a certain amount of support, but the economy is still not out of this adjustment cycle lows, market valuation of integral lifting of limited space. Investors also cut positive results are not encouraging. From a pessimistic point of view, the stockmarketDrop in just formed
TERA CD-key, from the perspective of history, can turn a rate cut, reversing the market may be very small, for Outlook should also be cautious. Effect on the property market will be more clear or to stimulate the property market continues to pick up, but the possibility of a rebound in housing prices overall basic does not exist after the interest rate adjustment, on loan to buy a House, who, in accordance with the loan of 100Million, 20 equal principal and interest repayment method, after rate cut if the interest rates, monthly payments will be reduced by $ 150; according to the first suite 85 percent interest rate credit policy, after the rate cut monthly payments by $ 122, buyers will further ease the burden of. 4 May this year, along with the loose credit policies, adjustment of prices of some items clearly, and many local governments fine-tuneProperty control policy, encouraging desired market around a clear rebound in trading volume. Especially in May, Beijing, Guangzhou and other cities implementation restriction policies since the highest volume levels.
House prices stopped falling, part price rebound. In this context, the industry generally believe that, and unlike cut deposit reserve rate several times since last year, in the currentProperty market quickly under the background of significantly warmer, the impact of interest rate cuts on the property market will be more obvious.
Credit policy this year than 2011, there has been a noticeable loosening, despite monetary easing was to steady growth, not to save the property market, but the real estate industry will continue to benefit from interest rate cuts. For most developers, rate cut is good news. Comparison of current real estate market capital chain as a whole bear, The authorities also stressed to rein in credit flows to real estate industry.
Loans from the Bank loan interest rates mean that developers of lower interest rates, lower financing costs, coupled with the markets, developers are difficult to mitigate. For buyers, purchase threshold for interest rate cuts will further reduce demand, will promote the further pick-up in trading volume of the property market. Chain homeVice President Lin Qian believes that if the Government does not impose tougher control policy, interest rate cuts will lead to two months of recovery before the turnover continued for some time in the future.
On this basis, housing prices stopped falling and the situation will be more obvious. "Buyers purchase decisions other than housing needs, the most important is the trend in prices is expected. "Beijing Zhongyuan real estate market research department totalZhang Dawei prison analysis, real estate regulatory policy currently is the most influential in the credit policy, credit and interest rates can be said to be the barometer for judging the real estate market. For real estate on the market rumors of regulation is likely to relax, head of housing and urban-rural development-related public again in recent days, never waver in upholding the market regulation, must not occur again. ButThe interest rate cuts may be changed to a large extent on market expectations, buyers have been waiting, cuts may be understood as "policy bottom" has appeared, so as to come to the House as soon as possible. Then, as the credit policy of relaxing, home prices will appear sharp rebound in 2009? Experts believe that the macroeconomic policies to benefit in the second half continues to stimulate demandRelease, but the possibility of a rebound in housing prices overall basic does not exist: first, due to the market demand of 3 releases, banking available credit is reduced rapidly, some banks have already started to benchmark interest rate of second-tier cities callback, demand release makes the market has begun to look forward to further reduction of cooperation and, secondly, will be positive in the second half after fullReflect the focus, no panic buying in the market, buying time for the second half better third, regulation of the restriction of administrative tools, such as policy enforcement is very large, large inventories remained and developers, and potential future supply is still at a high level, this also determines the relationship between the supply and demand in the property market bounced back Foundation does not exist. Related topics: banks 8Cuts down exclusive line for the first time during the year as of the date of analysis: Wang Jianmao: policy demands of Hu cut due to steady growth: Central Bank interest rate cuts are mainly under the influence of macro-economic situation the exclusive line of policy forecast: Tian Guo Qiang: Zhu Baoliang will also have at least one cutting interest rates during the year: or will in the future continue to cut non-Symmetric rate cut unlikely Lv Suiqi: interest rate cuts that monetary policy was forced to turn around Zhao Qingming: Central Bank rate cut corporate financing costs Pack-year savings of 200 billion Xiang Songzuo: degree of marketization of interest rates to further advance the exclusive line of stock market impact: Li Daxiao: interest rate cuts on the stock market affect the immediate concern about property stocks Wang Jianhui: symmetryDiscount stock cut effect short-term up to Liu jipeng: cuts Chinese economy growth effects exclusive lines of industry: market impact: year cut rates for the first time developers to benefit from Cheng Hongqing: Central Bank rate cut is unlikely to impact on the profits of commercial banks Tan Yaling: loose the deposit and loan interest rates will increase speculation arbitrage occurs outsideMarket reaction: people's Bank of China cut interest rates France stock market rising fast in China's Central Bank announced interest rate cuts stimulated peripheral market rose strongly [scroll] Shanghai: cars with LPG retail prices drop 3 cents (06-08) [scroll], 93rd Shanghai fell to $ 7.58 per litre gasoline (06-0820:51) [scroll] Central Bank cut interest rates by 25 basis points financial costs of electric power Enterprise (06-08) [scroll], 93rd, Beijing fell to $ 7.64 per litre of gasoline (06-08) [scroll]IMF: China's economic growth this year 8% the Yuan is still undervalued (06-0820:37) [scroll] Wharf: stake in green city is a strategic investment trust Greentown to redemption (06-08) [scroll] Lufthansa Cargo to confirm closure of Emerald Air says it will not pull out of China (06-08) [scroll] CBRC commercial bank capital management question and answer session (06-08: 22) [scroll] Green City: year to date sales compliance 38% free of price reduction program (06-08) [scroll] Song Weiping: decline in transaction prices matter don't mind a voice (06-08) [scroll] Hongwei ZHANG: green city sells unit to survive the "live" is the most important (06-08) [scroll] Chongqing 1200 poor farmers will choose projects for poverty alleviation (06-08) [scroll] tracking of Guangdong power grid load's first new highs in June this year the gap will be reduced (06-08) [scroll] various provinces, retail prices of gasoline and diesel the highest table (06-0819:43) [scroll] China's petrochemical and Russia chemical signed cooperative agreements (06-08) [scroll] shares in the face of major tournaments feet soft European Cup magic spell can break (06-08) [scroll] tracking of Guangdong power grid load's first year record (06-08)[Scroll] Chairman Wang Runpei Pearl River Piano resigned due to physical reasons (06-08) [scroll] expert analysis that the price reduction was too small (06-08) [scroll] oil prices second cut boot floor people could enjoy the benefits (06-08) [scroll] monitoringLike this: since the beginning of June, pork prices rose in the northeast (06-08) [scroll] since the beginning of June, pork prices rose in the northeast (06-08) [scroll] Central Bank rate cut Bank scroll fell to 6.28 times times forward earnings (06-08) [scroll] Federal PharmacySewage local government issued a denial of alleged breaches (06-08) [scroll] Korea Eximbank urges North Korea to repay loans for food (06-08) [scroll] CDB 109.5 billion in new affordable housing lending last year than hyper-60% (06-08) [scroll] LakeBeijing double Celestial Street May sign $ 3.35 billion income-producing over 1 billion (06-08) [scroll] sinolink securities: focus on rating Fund fixed income characteristics (06-08) [scroll] Sinopec: rumors untrue Company Secretary of the General monthly salary of 30,000 (06-08) [scroll]Experts are expected in the future in oil prices back to 7 times as much downside were more likely (06-08) [scroll] United States Honorary Chairman of the APEC Centre: China's economy will speed up again next year (06-08) [scroll] interpretation of fund interest rate cuts: enter easing cycle in China a-shares are expected to rebound (06-08:43) [scroll] Germany's Central Bank raised its 2012 forecast for GDP growth and inflation (06-08) [scroll] HSBC: cutting interest rates bullish correction still needs some time (06-08) [scroll] Li Daxiao: oil prices down to benefit transportation on the stock market to benefit (06-0818:37) [scroll] Central Bank rate cut Sun private care to the weak market Outlook (06-08) [scroll] Fund initiative to reduce the positions of large companies this week to jiancang main (06-08) [scroll] suning Tesco invested 200 million upgrade price war aimed at cat Jing dong (06-0818:24) [scroll] Everbright PRU us: warmer save opportunities of the market optimistic about the real estate brokerage sector (06-08) [scroll] Shanghai Middle: methanol market weak shock unchanged (06-08) of gasoline and diesel respectively, down $ 0.39 per litre and $ 0.44 | Stock market videoRing | Successive adjustment | Lin Bo Qiang | topic around this fall in high oil product prices modification | Oil prices or will continue down | Pulling sales limited green city Kowloon Kuranari 2nd largest shareholder | Will sell 10 billion project | Hongwei ZHANG: to live the most important | Special counties in the private tomb of Super Deluxe [financial]Automotive Group in Jiangsu Province broke down continued: oil product Super chlorine content United States 6,000 times [financial] Green City continue to "sell one's soul self" shares the wharf to raise $ 5 billion Hong Kong dollars [financial] Canon Zhuhai require employees to long-term leave Foxconn denies Chengdu riots [financial] silver insurance business in China Construction Bank fell regardless of performance not to be punished [share] two outflows8 billion shares being the banks to buy points to [stock] SFC: restructuring share insider involved shall suspend the restructuring of listed companies [commercial] learn from Liu brand-building the global youth unemployment highest national [commercial] 8 questions that must be asked before the venture venture capital is like a pair of power-law distribution of [financial] Central Bank rate cut millions of mortgages less 2036,000 bonds cancel issuing [finance] rich dating $ 40,000 spare cash to finance activities of interest exposure pictures documentary: revealing the secrets of Foxconn, as United States Federal Reserve System
Others:
