Deposit Reserve Rate Increases "Microseismic" Capital Side

2011/4/19 10:26:00 37

Deposit Reserve Ratio Increases Capital Side

The fourth increase in the deposit reserve rate during the year has not put too much pressure on the capital side.

18, the inter-bank market capital interest rate did not show a sharp rise, the largest increase of 7 days, the rate of increase of 34.37 basis points.

18 days,

Bank

Inter market capital interest rates have risen.

Among them, the 7 day period across the payment day rose the most, and the 7 day loan.

interest rate

It rose 34.37 basis points, but still below 3%, 2.695%, and 7 days repurchase fixed interest rate rose 34.2 basis points to 2.697%.

The growth rate of the remaining maturity varieties is less than this.

The data in March also prove that there is plenty of money at present.

The average monthly interest rate for interbank lending in March was 1.935, 0.8 percentage points lower than that in February.

CITIC Securities research report pointed out that due to the large number of central bank tickets and increased deposits of residents and enterprises, the liquidity in the financial system was very abundant, resulting in a decline in interest rates.

Liu Ligang, director of economic research at the Greater China region of Australia and New Zealand, believes that in March the broad money supply and the new Renminbi were added.

loan

All of which are higher than the expectations of the market, indicating that inflation may go further in the future. This shows that China's economy still has a driving force, and also shows that the whole society has ample liquidity. Although the monetary authorities have been able to shrink liquidity through various means, the effect is worrying, and large-scale liquidity is still injected into the real economy through various channels.