After the interest rate cut, there is no impact on the original unexpired deposits, and the original deposits still bear interest at the original interest rate. What is affected is the bank's new deposits after the interest rate cut.

Or deposits that are transferred after maturity, and the interest of these two deposits will be reduced because of interest rate cuts. Deposit interest rate is already very low, even if the interest rate is lowered, it won't have much impact, and it's not even sure whether the current interest rate will be lowered.

Extended data:

The great significance of interest rate reduction in liberalizing the upper limit of deposit interest rate;

Marketization of interest rate is one of the core reforms in China's financial sector. The upper limit of deposit interest rate of commercial banks and rural cooperative financial institutions will be released this time.

The basic liberalization of interest rate control is of great significance to optimizing resource allocation. Under the condition of interest rate marketization, the price leverage function of interest rate will be further enhanced.

Especially at present, China's economy is in a critical period of transition and convergence between old and new industries and development kinetic energy. Liberalization of interest rate control can help financial institutions choose industries to support according to the principle of marketization.

Transformation and development have injected new impetus. With the liberalization of the upper limit of deposit interest rate, the traditional business model of "scale is benefit" of financial institutions will not be sustainable when interest rates are protected.

It is conducive to promoting financial institutions to establish a "profit-centered" business philosophy, accelerating the transformation of business models, improving pricing mechanisms, improving independent pricing capabilities, achieving differentiated, diversified and sustainable operations, and effectively improving the level of financial services.

Baidu encyclopedia-interest rate cut

The relevant person in charge of the People's Bank of China-Central Bank answered a reporter's question on lowering interest rates and RRR.