2065 438+0 165438 20091October 20th, the central bank will lower the one-year and five-year LPR by 5 basis points, and Yan Yuejin, research director of think tank center of Yiju Research Institute. After the reduction, the monthly income of one million mortgages decreased by 3 1 yuan.
After LPR, the directivity is weakened or not far away.
Since the restart on February 3, the central bank has carried out a large number of repurchase operations.
Color believes that the main purpose of the central bank is to alleviate the short-term impact of the epidemic on the economy and the market, stabilize the market, and ensure sufficient liquidity of financial institutions.
It is predicted that with the improvement of the epidemic situation, the demand for agricultural resumption will increase, and the concept of monetary policy will change from short-term repurchase operation to MLFLPR operation. At the same time, with the decline of orientation, the purpose is to support the medium and long-term credit demand of enterprises, rather than short-term stability.
For some time to come, I think the total amount of monetary policy will be limited to the inflation range and remain timely and moderate. However, it is the focus of monetary policy that structural monetary policy correctly supports the economy of epidemic areas and small and micro private enterprises affected by the epidemic. Therefore, it is expected that there will be measures to reduce the direction before the end of the month.
In the past, the central bank also conducted targeted cuts to required reserve ratios in the first quarter, with the main purpose of providing directional liquidity and supporting the recovery. I'm adding color.