TechFlow news — On January 15, according to Jinshi Data, Zou Lan, spokesperson and deputy governor of the People's Bank of China, said at a press conference held by the State Council Information Office that there remains room for further reserve requirement ratio (RRR) cuts and interest rate reductions this year. Regarding the statutory reserve requirement ratio, the current average ratio for financial institutions stands at 6.3%, indicating room for additional RRR cuts. As for policy rates, on the external front, the RMB exchange rate is relatively stable and the U.S. dollar is in a rate-cutting cycle, meaning exchange rate pressures do not pose strong constraints. On the domestic side, since 2025, banks' net interest margins have shown signs of stabilization. In 2026, a large volume of three- and five-year long-term deposits will mature. The recent reduction in interest rates on various structural monetary policy tools will help lower banks’ interest payment costs, stabilize net interest margins, and create space for further rate cuts. (Securities Times)
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