It is literally understood and can refer to:

1, LPR cuts interest rates

For example, on July 20, 2022, the updated 1 year LPR interest rate was 3% and 7%, and the LPR interest rate over five years was 4% and 45%. However, on August 20, 2022, the LPR interest rate of 1 year was lowered to 3% and 65%, and the LPR interest rate of more than five years was lowered to 4% and 3%, which meant that the loan interest rate was lowered.

2. The interest rate of consumer loans is lowered.

For example, the minimum annual interest rate of the "Ronge Loan" credit loan launched by China Industrial and Commercial Bank is 4% and 35%. However, from July 26th to August 3rd1in 2022, the annual interest rate of Ronge Loan was reduced to the minimum of 3% and 99%, which can also be said to be the reduction of the loan interest rate.

3. The interest rate of the first housing commercial loan will be lowered.

Loan to buy ordinary housing, the first suite commercial loan interest rate was lowered from the lowest LPR in the same period to the lowest LPR-0 and 2% in the same period, which is also the reduction of loan interest rate.

4. The interest rate for medium-term lending facilities will be lowered.

Medium-term loan facilitation means that the central bank lends money to commercial banks through public bidding, and the winning bank pays the loan interest to the central bank at the winning interest rate. For example, the winning bid rates announced on August 5, 2022 were 2% and 75%, which were 0% and 1% lower than last time.

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Extended data:

What does it mean to lower the deposit interest rate?

Lowering the deposit interest rate means that investors' money in the bank will bring less income, and users will reduce their deposits in the bank. At the same time, the loan interest rate will also be lowered with the lowering of the deposit interest rate, and the cost of users' loans from banks will be reduced, which will increase the outflow of funds from banks to some extent.

When the deposit interest rate is lowered, users can increase their income by purchasing the following wealth management products:

1. Fixed investment of the fund

Fixed investment in a fund refers to investing in a designated open-end fund at a fixed time and amount. When the interest rate of bank deposits is lowered, users can choose to invest in some funds every month in exchange for time.

2. Buy convertible bonds

Convertible bond is a bond issued by listed companies to raise funds from the society, which has the dual attributes of stock and bond. For some relatively stable users, you can buy some convertible bonds, and the income is also considerable, most of which are hovering around 10%.

3. stocks

Although stocks have risks, they also have benefits. When the deposit interest rate is lowered, users can choose to buy some blue chip stocks and white horse stocks. In the long run, their income is still considerable, and they can maintain and increase the value of funds to a certain extent.

What is LPR?

LPR is the basic loan reference interest rate calculated and published by the representative quotation bank on the basis of the bank's loan interest rate for the best quality customers and the open market operating interest rate, and authorized by the National Interbank Funding Center of China People's Bank. In the future, LPR will become the main reference benchmark for loan interest rate pricing. Representative quotation banks are: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China CITIC Bank, China Merchants Bank, Industrial Bank, Shanghai Pudong Development Bank, China Minsheng Bank, Xi 'an Bank, Taizhou Bank, Shanghai Rural Commercial Bank, Guangdong Shunde Rural Commercial Bank, Standard Chartered Bank (China), Citibank (China), Weizhong Bank and online merchant bank.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

You are cordially invited to download and use China Bank Mobile Banking APP or China Bank Cross-border GO APP to handle related business.

What does LPR mean?

The loan market quotation rate (LPR) refers to the interest rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China after the quotation of 18 quotation bank, including 1 year and more than 5 years. From August 20th, 20 19, LPR will be published on the website of National Interbank Funding Center and China People's Bank at 9: 30 on the 20th of each month (postponed in case of holidays).

(Response time: June 22, 2022. The above contents are for your reference. If there are business changes, please refer to the latest business rules. )

Tips: If you have any questions, you can call the official customer service hotline or contact China Merchants Bank APP for online customer service consultation.