The market ushered in the latest set of monetary policy. The Central Bank announced on June 28 that the second quarter of 2021 (the 93rd in total) regular meeting of the Monetary Policy Committee of the People’s Bank of China will be held in Beijing on June 25.
When analyzing the domestic and international economic and financial situation, in the context of the sharp appreciation of the RMB in the second quarter, different from the statement of “the overall stability of the RMB exchange rate” in the first quarter, the central bank The quarterly meeting stated that “the RMB exchange rate is expected to be stable.” The expression of loan interest rates maintained the expression of “steady while decreasing” in the first quarter.
“At present, my country’s economy is operating steadily, strengthening, and steadily improving.” The latest meeting pointed out.
The latest regular meeting of the Monetary Policy Committee for the second quarter will continue the first quarter meeting. “A sound monetary policy must be flexible, precise, reasonable and appropriate, and keep a good grasp of the timeliness and effectiveness of policies to maintain liquidity. On the basis of the statement “maintain the overall stability of the overall economic situation, and strengthen the resilience of economic development”, on the basis of the statement that the money supply and the growth of social financing scale basically match the nominal economic growth, and the macro leverage ratio is basically stable.
In terms of interest rates, the latest regular meeting of the Monetary Policy Committee mentioned the adjustment of the method of determining the self-regulatory ceiling of deposit interest rates. The meeting stated that the formation and transmission mechanism of market-based interest rates will be improved, and the central bank will improve The policy interest rate system, optimizing the supervision of deposit interest rates, adjusting the method for determining the self-discipline upper limit of deposit interest rates, continue to unleash the potential for the reform of quoted interest rates in the loan market, and promote further reductions in actual loan interest rates.
In order to maintain the order of competition in the deposit market and avoid problems such as disorderly competition, on June 21, the market interest rate pricing self-regulatory mechanism announced that the market interest rate pricing self-regulatory mechanism optimizes deposits The method for determining the self-regulatory ceiling of interest rates is to change the self-regulatory ceiling of deposit interest rates, which was originally formed by a certain multiple of the benchmark deposit interest rate, to be determined by adding a certain basis point to the benchmark deposit interest rate.
In addition, the central bank proposed in the latest regular meeting of the Monetary Policy Committee to study the establishment of carbon emission reduction support tools.
Previously, Liu Guiping, deputy governor of the central bank, stated at the 13th Lujiazui Forum that the central bank is stepping up efforts to establish carbon reduction support tools that directly reach the field of carbon reduction. By providing low-cost funds to qualified financial institutions, financial institutions are supported to provide preferential interest rate financing for projects with significant carbon emission reduction effects.