3 Year Central Bank Interest Rate Drop

Yesterday, the central bank issued RMB 110 billion yuan 3 - year central bank votes in the open market, winning the bid rate fell 2 basis points earlier than before.

Market analysts believe that the current interbank market for liquidity concerns, the demand for medium varieties is strong, resulting in 3 years of central bank issuance rate lower.

According to the central bank announcement, the issuance rate of 3 - year central bank votes is 2.68%.

The winning rate of the previous forty-first phase of the central bank's vote was 2.70%.

In addition, the announcement shows that the central bank did not carry out the repo operation in the morning.

The total number of central bank bills and repurchase bills expended this week was 144 billion yuan, a decrease of 36 billion yuan compared with last week.

The central bank has recovered 15 billion yuan on Tuesday.

It is estimated that if there is no other operation this week, the central bank will still make net investment through the open market.

Last week, the central bank launched a net investment of 145 billion yuan through the open market.

It is understood that since the resumption of the 3 year central bank in early April, the market's popularity has reduced its issuance interest rate from the initial 2.75% to the previous 2.70%.

At the same time, the issuance rate of central issue in March is still very serious due to the fact that it has a serious hang up with the capital interest rate and the two tier market.

At present, the market interest rate for the 3 - year central bank is two, and the market interest rate is about 2%, which is more than 50 basis points against the first market interest rate 1.4896%.

GF Securities analyst told reporters that the current market funds for the demand for medium varieties are strong, so the 3 - year central bank issuance rate lower.

In addition, the 3 month period continued to return rationally due to high capital prices.

Priority to meet the medium and long term

Resource allocation

Money market funds are tight. The circulation of 110 billion yuan shows that the demand for the 3 - year central bank is still strong.

Analysts pointed out that this shows that commercial banks are more concerned about the high yield of medium and long-term bonds, and capital operation tends to give priority to the allocation of demand.

China's currency network statistics show that the tension between banks has begun to show signs of easing.

Yesterday, the interest rate rise in the interbank market slowed down, and overnight repo weighted interest rate fell 1.41 basis points to 2.7513% yesterday.

It is understood that recently the central bank bills yield and SHIBOR interest rates rose sharply, monetary tightening policy further warming.

Previously, the benchmark interest rate as a benchmark for interest rate has remained unchanged at 1.926% for 18 consecutive weeks, rising to 2.0096% in June 1st, and capital market is facing short-term pressure.