"Double flat" release of 700 billion liquidity shares next week hit 3,500 points
people's Bank of China decided late on Friday, October 24, 2015, down by financial institutions ' lending and deposit benchmark interest rates 0.25%; self-same day, lowered reserve requirement ratio for financial institutions 0.5% to keep reasonably adequate liquidity in the banking system.
further increasing the industry's easing of monetary policy is expected. 21st, the central banks of 11 financial institutions to carry out the MLF (medium-term borrowing facilities), duration 6 months interest rate 3.35%, a total of 105.5 billion yuan of liquidity.
Tencent "Securities Research Institute" held behind closed doors over the weekend to share, a number of experts said expectations for future monetary policy, but left the investors ' problem is in the "more money" background, "money" and where to go?
asked why money is not tight to drop?
"money is not tight why drop" Minsheng securities fixed-income head Li Qilin raised this query.
but the fact is, despite the time exceeded expectations, but reducing interest rate cuts expected in the industry. Analysts believe that the macro-economic level, as well as foreign exchange are the main reasons for the decline.
CICC Wang Hanfeng pointed out, landing all the data published last week in the third quarter, macro-economic level and no significant improvement, economic stabilization and recovery requires a more loose policy to support.
"the current real economy financing costs remain low, and considering the downturn in prices, in particular the production of a downturn in prices, enterprises are faced with the actual financing cost more than 10%, which is obviously is not matching with the downturn in the real economy. Taking into account higher actual cost of capital still to relax monetary policy to support economic stabilization and recovery ", Wang Hanfeng pointed out.
Li Qilin, head of fixed income securities considered to cover people's livelihood Foundation money gap, stabilize the funding level fluctuations is one of the reasons. Noted that the 8 September the Central Bank bore foreign exchange fell 700 billion October also faces financial pressure of the deposit paid, even if considering a MLF releases more than 110 billion of liquidity, current overdue rate is about 1.8% or so, normal level should be between 2-2.5%.