Legal analysis: the central bank's interest rate cut is a macro-control of the national economy, which means that the bank's deposit and loan interest rates begin to decrease, people are more willing to take out their money, and banks begin to increase their loans. With loans, enterprises can better invigorate the economy. The People's Bank of China has the right to adjust interest rates.

Legal basis: Provisions on the Administration of RMB Interest Rate Article 7 The head office of the People's Bank of China shall perform the following interest rate management duties: (1) To formulate interest rate policies and regulations on interest rate management and organize their implementation according to the needs of national economic development and the requirements of monetary policy; To lead the interest rate management of branches of the People's Bank of China; (3) To supervise and inspect the implementation of national interest rate policies and regulations by financial institutions; (4) Coordinating and handling interest rate disputes and interest rate violations of financial institutions; (five) to publicize and explain the national interest rate policy and relevant laws and regulations; To study, formulate and implement the national interest rate reform plan; (7) Monitoring and adjusting the interest rate in the financial market; (eight) other interest rate management work.