The executive interest rate, also known as the executive benchmark interest rate, also known as the refinancing interest rate or rediscount interest rate, is the basic interest rate that plays a core role in the whole interest rate system and can restrict other interest rates.

The executive interest rate is the deposit and loan interest rate of the People's Bank of China to commercial banks and other financial institutions, that is, the benchmark interest rate, also known as the statutory interest rate; It is the guiding interest rate for commercial banks' deposits, loans and discounts announced by the People's Bank of China. The deposit interest rate cannot fluctuate temporarily, and the loan interest rate can fluctuate 65,438+00% to 70% on the basis of the benchmark interest rate.

Extended data

The characteristics of the executive interest rate are:

1. The execution interest rate has extensive market participation and can fully reflect the relationship between market supply and demand.

2. The executive interest rate is a transmission interest rate, which is in a dominant position in the whole interest rate system, with strong correlation and great influence.

3. The interest rate should be stable and easy to control.

4. The implementation of interest rate is one of the important means for China's central bank to achieve monetary policy objectives, and the basis for setting benchmark interest rate can only be monetary policy objectives. When the focus of policy objectives changes, the interest rate as a policy tool should also change.

Baidu Encyclopedia-Executive Interest Rate