&Nbsp Under Interest Rate Corridors; "Move With Interest".

Before next week's CPI and other macro data release, the first time this year's interest rate hike is less than 2 months, the central bank again resorted to raising interest margins.

In the face of the fourth increase in interest rates since last October, deflation is expected not only to affect the macro economy, but also to the people.

After half a year's four increase in interest rates, the characteristics of the current round of interest rate hike have been looming. The interest rates for each period show a "increase in interest rates over time except for 1 years, while loan interest rates are flat".

On the one hand, interest rates on deposits are steeply changing.

For example, the 1 year fixed deposit adjustment scale is 100 basis points, and the 5 year fixed deposit adjustment scale is 165 basis points.

Loan interest rates showed a flat change, for example, the 1 year period and the adjustment rate of the internal loan interest rate were 100 basis points, and the adjustment period of the 5 year period was only 86 basis points.

The reason for this round of interest rate increases is that the industry thinks that the reason is to solve the problem of deposit negative interest rate under the inflation background, while the loan level does not have the macro basis for raising interest rates, and even because of the problems of local government debts, there are obvious resistance.

Unlike the first three interest rates hikes, the interest rate increases in the current interest rate increase are the same as 25 base points.

Taking the 5 year fixed interest rate as an example, this increase is only 25 basis points. When interest rates started to increase in October last year, the 5 year deposit rate rose by 60 basis points.

"We can not judge the increase in interest rates by the narrowing of the increase in long-term fixed interest rates.

Although the average increase in interest rates is the smallest of the four increase in interest rates, especially the long-term fixed interest rate.

A bank bond analyst told reporters.

As a matter of fact, there are two basic views on raising interest rates in the market.

One view is that after half a year's experience of four increases in interest rates, the tightening policy has achieved initial success. The interest rate increase in the future is "plus one less time". Now it has entered the middle and late stage of the interest rate increase; while another view is that inflation pressure still exists in the two quarter. After the inflation trend is clearer, and the sharp downward risk of economic growth is gradually excluded from the data from mid March to mid April, macroeconomic regulation and control may regain the tightening route.

Societe Generale Bank (601166) senior economist Lu commissar predicted that excluding this increase in interest rates, by the end of this year will also raise interest rates 2 to 3 times.

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Under interest rate corridor

After raising interest rates, for ordinary investors, "pfer", "early repayment of housing loans" has become a hot topic for a while.

Bank financial planners remind that in addition to paying attention to the number of days of deposit, we can also make investment returns "move with interest" through rolling out short-term financial products.

For investors who have the ability to repay their loans ahead of time, it is necessary to consider whether the loan should be repaid in advance according to their own circumstances.

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In the face of several rate hikes, bank financial planners suggest that investors shorten the fixed deposit period. They can consider more than three months or half a year's short-term financial varieties to invest, while financial products also follow the trend of interest rate increase, and start upgrading.

In the interest rate channel, some banks have launched some short-term financial products on rolling stock. The biggest advantage is that they can purchase and redeem each working day, providing better liquidity.

For example, the recently opened "Yuan Qian - Chang" open asset portfolio financial product of the Shanghai branch of CCB has changed the original 1 days per month to every working day on the day of purchase and redemption. Under the premise of ensuring the liquidity of the fund, investors can also get slightly higher than the fixed interest rate.

There is no doubt that after the interest rate hike, the cost of buying commercial loans increased again.

Taking loans for 1 million and 20 years (equal repayment of principal and interest) as an example, after the interest rate hike, the monthly repayment amount was 7633.4 yuan, an increase of 118.7 yuan before the rate increase, while the monthly repayment of the two suite increased by about 133.9 yuan.

Whether it is necessary to repay the loan ahead of time needs to vary from person to person.

Bankers suggest that if the buyers and sellers of the same amount of principal and interest repayment methods are used, the monthly payment will basically be based on the principal part after the middle period of the repayment period. At the same time, the interest that can be saved in advance will be very limited.

For the buyers who use the equal principal repayment method, when the repayment period exceeds a certain period, the principal amount of the monthly payment is more than interest. Therefore, the earlier the repayment is, the worse the effect will be for saving interest.

If the lender blindly makes early repayment, it will not be meaningful.