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Bank Interest Rates Further Go Up "Money Shortage" Speculation One After Another.
< p > > on Wednesday this week, the a href= "http://www.91se91.com/" > purchase rate > /a > rose 72 basis points to 3.8%, and the 7 day repo rate rose 47 basis points to 4%, while the 10 year treasury bond yield rose 4 basis points to 4.18% high. < /p >
< p > today, the overnight repo rate rose by 27 basis points to 4.07%, and the seven day repo rate rose nearly 1 percentage points to 5%, then fell to 4.7%, or a new high of two months, which was rare since the "shortage of money" in June. < /p >
< p > analysts say it is too early to worry about losing interest rates. Peng Wensheng, chief economist at CICC, said interest rates in the interbank market would not soar, nor would yesterday's change be the start of a new round of interbank interest rates. < /p >
The policy of P > a href= "http://www.91se91.com/" > currency < /a > may have tight pressure on the margin. However, the recent open market operation of the central bank mainly reflects the intention of hedging large capital inflows, rather than tightening monetary policy. < /p >
< p > China's central bank released the RMB credit data of financial institutions in September, which showed that in September, China's foreign exchange accounted for a substantial increase of 126 billion 400 million yuan, indicating that capital flows into China in an accelerated manner in September. < /p >
< p > it is noteworthy that China's economy grew stably in the three quarter. The HSBC PMI value announced today reached 50.9, reaching a 7 month high. Qu Hongbin, chief economist of HSBC China, said, "this means that the three quarter of China's economy will bottom up, and the fourth quarter will steadily recover. This trend may last for several months." < /p >
< p > Peng Wensheng pointed out that because of the US slowdown in QE reduction and the downside risks of China's economic growth, the risk appetite of the Chinese market has increased, and more foreign exchange inflows will continue in the coming months. < /p >
< p > > a href= "http://www.91se91.com/" > foreign exchange < /a > occupation is an important factor affecting the central bank's monetary policy. When capital flows in large quantities, the central bank will abandon the counter repurchase as one of the means to manage the liquidity of the fund. < /p >
< p > in addition, there are seasonal factors in the rise of interest rates. For example, in October, the tax collection was turned in. From the point of view of exchanges, the average fiscal deposit in November and December reached 1 trillion and 200 billion yuan, which may be higher this year. < /p >
< p > Peng Wensheng also said that after 6 months of money shortage, the market is very sensitive to the central bank's open market operation and the fluctuation of market interest rate, which has led to a larger fluctuation in liquidity demand of banks. That is to say, a change in market expectations will lead to a rise in liquidity demand of banks. < /p >
P, however, Peng Wensheng believes that the central bank will not accept a sharp rise in interbank market interest rates, and there will be enough monetary policy tools to keep market interest rates stable, such as SLO. < /p >
< p > today, the overnight repo rate rose by 27 basis points to 4.07%, and the seven day repo rate rose nearly 1 percentage points to 5%, then fell to 4.7%, or a new high of two months, which was rare since the "shortage of money" in June. < /p >
< p > analysts say it is too early to worry about losing interest rates. Peng Wensheng, chief economist at CICC, said interest rates in the interbank market would not soar, nor would yesterday's change be the start of a new round of interbank interest rates. < /p >
The policy of P > a href= "http://www.91se91.com/" > currency < /a > may have tight pressure on the margin. However, the recent open market operation of the central bank mainly reflects the intention of hedging large capital inflows, rather than tightening monetary policy. < /p >
< p > China's central bank released the RMB credit data of financial institutions in September, which showed that in September, China's foreign exchange accounted for a substantial increase of 126 billion 400 million yuan, indicating that capital flows into China in an accelerated manner in September. < /p >
< p > it is noteworthy that China's economy grew stably in the three quarter. The HSBC PMI value announced today reached 50.9, reaching a 7 month high. Qu Hongbin, chief economist of HSBC China, said, "this means that the three quarter of China's economy will bottom up, and the fourth quarter will steadily recover. This trend may last for several months." < /p >
< p > Peng Wensheng pointed out that because of the US slowdown in QE reduction and the downside risks of China's economic growth, the risk appetite of the Chinese market has increased, and more foreign exchange inflows will continue in the coming months. < /p >
< p > > a href= "http://www.91se91.com/" > foreign exchange < /a > occupation is an important factor affecting the central bank's monetary policy. When capital flows in large quantities, the central bank will abandon the counter repurchase as one of the means to manage the liquidity of the fund. < /p >
< p > in addition, there are seasonal factors in the rise of interest rates. For example, in October, the tax collection was turned in. From the point of view of exchanges, the average fiscal deposit in November and December reached 1 trillion and 200 billion yuan, which may be higher this year. < /p >
< p > Peng Wensheng also said that after 6 months of money shortage, the market is very sensitive to the central bank's open market operation and the fluctuation of market interest rate, which has led to a larger fluctuation in liquidity demand of banks. That is to say, a change in market expectations will lead to a rise in liquidity demand of banks. < /p >
P, however, Peng Wensheng believes that the central bank will not accept a sharp rise in interbank market interest rates, and there will be enough monetary policy tools to keep market interest rates stable, such as SLO. < /p >
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2013/10/23 11:05:00
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