{"id":2088,"date":"2024-10-01T00:15:59","date_gmt":"2024-09-30T16:15:59","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=2088"},"modified":"2024-10-01T00:15:59","modified_gmt":"2024-09-30T16:15:59","slug":"%e4%b8%ad%e5%9b%bd%e5%a4%ae%e8%a1%8c%e4%b8%8b%e8%b0%83%e4%b8%80%e5%b9%b4%e6%9c%9f%e5%88%a9%e7%8e%87%ef%bc%8c%e7%b4%a7%e7%bc%a9%e9%93%b6%e8%a1%8c%e7%b3%bb%e7%bb%9f%e6%b5%81%e5%8a%a8%e6%80%a7","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=2088","title":{"rendered":"\u4e2d\u56fd\u592e\u884c\u4e0b\u8c03\u4e00\u5e74\u671f\u5229\u7387\uff0c\u7d27\u7f29\u94f6\u884c\u7cfb\u7edf\u6d41\u52a8\u6027"},"content":{"rendered":"

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\u65b0\u95fb\u6765\u6e90\uff1a<\/b>www.bloomberg.com
\u539f\u6587\u5730\u5740\uff1a<\/b>China Central Bank PBOC Cuts One-Year Rate, Withdraws Cash From Banking System<\/a>
\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2024-09-25
\u539f\u6587\u6458\u8981\uff1a<\/b><\/font><\/p>\n

 lowered the interest rate charged on its one-year policy loans by the most on record, kicking off a sweeping program to revive confidence in the world\u2019s second-largest economy.The People\u2019s Bank of China cut the  of the medium-term lending facility to 2% from 2.3%, according to a statement on Wednesday. The 30-basis-point cut was the biggest since the bank began using the monetary tool to guide market interest rates in 2016.The expected move followed Governor \u2019s announcement the previous day of a broad stimulus package that amounted to an  for an economy on the cusp of a . \u201cThe cut is part of the package,\u201d said , chief economist for Greater China at Jones Lang LaSalle Inc. \u201cThe market is keeping a close eye on the strength, frequency and synergy of measures to follow as China strives to achieve this year\u2019s around 5% growth goal.\u201dThe yuan  past the 7 per dollar milestone for the first time in 16 months as investors  China\u2019s stimulus package. Chinese stocks extended their , with the onshore benchmark CSI 300 Index on track to wipe out all of its losses for 2024. The yield on China\u2019s 10-year bonds fell 1 basis point to 2.05%.The cut to the MLF rate is a prelude to more significant measures such as a promised reduction in the rate on , which the PBOC increasingly favors as the main policy lever. The rate on those instruments will be lowered by 20 basis points to 1.5% \u201csoon,\u201d Pan said Tuesday.Reflecting the new framework, the monetary authority withdrew a net 291 billion yuan ($41.4 billion) via the MLF, the biggest drainage since December 2021. The outstanding MLF loans are widely expected to be gradually replaced by other tools, including cash injections through reserve requirement ratio cuts, as the PBOC seeks to influence market borrowing costs more effectively.\u201cThe MLF may be downgraded to become a tool to adjust the marginal borrowing costs of banks,\u201d said , senior strategist at Australia & New Zealand Banking Group. \u201cThe MLF rate in the future could change following movements in market rates.\u201dThe central bank chief revealed a plan to unleash 1 trillion yuan in long-term liquidity with a 50-basis-point reduction of the RRR, which determines the amount of cash lenders must keep in reserve. Along with other new funding tools, the measures more than compensated for the effect of the net withdrawal on market liquidity.\u201cLooking ahead, there is room for further replacement of MLF liquidity with RRR cut-induced liquidity given heavy MLF maturity in the coming months,\u201d said , a strategist at Oversea-Chinese Banking Corp. The rate cut on the one-year lending Wednesday \u201crenders the facility more aligned with the funding costs\u201d in the interbank market, she added.The earliest window for the repo rate cut to take effect could come after the week-long National Day holiday starting Oct. 1. The central bank has  to provide 14-day reverse repo bills this week ahead of the break. The PBOC is giving banks more say to influence the MLF\u2019s prices by allowing them to bid the loans by interest rates, breaking away from the past practice of bidding by amount. On Wednesday, the central bank for the first time published the highest and lowest bidding rates for the MLF, at 2.3% and 1.9%, respectively. declined for a second straight month in September after Wednesday\u2019s operation, standing at the lowest since November 2023.<\/pre>\n
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