Is a RRR cut already on the way? Expert: It is likely to be arranged in the fourth quarter

On September 5th, Zou Lan, director of the Monetary Policy Department of the People's Bank of China, said at the press conference of the State Information Office that the effect of the RRR cut at the beginning of the year is still emerging. At present, the average statutory deposit reserve ratio of Financial Institution Group is about 7%, and there is still some room. Wang Qing, chief macro analyst of Dongfang Jincheng, analyzed that considering that in the previous RRR cuts, some legal person Financial Institution Groups that have implemented a 5% deposit reserve ratio have not reduced the RRR, which is likely to mean that 5% is the lower limit of the current deposit reserve ratio. This means that we still have 2% room for RRR cuts. If you cut the RRR by 0.5% each time, you can cut the RRR four times. Wang Qing team analysis, taking into account the current banking system liquidity is relatively abundant, the RRR cut is likely to be arranged in the fourth quarter, the rate of reduction will be 0.5%, the release of funds 1 trillion, mainly to support the issuance of government bonds.