At this time the central bank cut interest rates seem to be difficult to

At this time the central bank cut interest rates seem to be difficult to text Sina Financial opinion leaders column (WeChat public number kopleader) columnist Lian Ping current interest rate cut is facing negative interest rates and devaluation of the two constraints. The existence of negative interest rate situation and the degree of the higher, it will inevitably lead to the weakening of the propensity to save and trading incentives to enhance asset prices and inflation. The RRR and down the lever requirements contrary. At this time the central bank to cut interest rates drop quasi July financial data seem to be difficult to the central bank announced in August 12th showed that new loans of less than 5000 yuan, the growth rate of M2 and M1 to expand the price scissors. Since 2015, the international and domestic economic and financial environment is complex, uncertain factors and influence. The United States is expected to raise interest rates fluctuations, devaluation of the currencies of emerging economies such as Europe and the British took turns, uncertain external factors in the formation of the impact is not small. Domestic real economy is also facing greater downward pressure. The domestic capital market experienced a year of turmoil, the property market has become the new capital of the magnet, and the local government debt scale replacement significantly increases, various factors are intertwined. Too much attention to financial data in a single month is difficult to define the main characteristics of see only a small part, the current financial operation. Credit less need not worry about the July new RMB loans 463 billion 600 million yuan, an increase of less 1 trillion and 10 billion, fell sharply in a single month credit caused no small market worries. From the perspective of the structure of credit in July, the company’s long-term loans increased by only 151 billion 400 million yuan, it seems that the formation of a serious drag on the incremental credit in July. The residents of the loan, due to the slow decline in the property market, many restrictions on the purchase of credit limit policy is also the existence of new and old policy conversion time lag, the residents of long-term loans only slightly lower. To some extent, the current demand for the real economy is relatively weak, and the relatively strong demand for the main features of the property market. Although the rate of return on business continues to decline, the greater the risk of business, investment willingness is weak, but under the impetus of the countercyclical policy, credit support for the real economy has not weakened. This year 1-7 month total credit 7 trillion and 990 billion, compared with the same period last year was $8 trillion and 40 billion. Taking into account the turmoil in the stock market last year, after the introduction of policies to rescue the market, the bank loans for many factors of non banking financial institutions, the loan deducted 1-7 months after credit is about 7 trillion and 960 billion, compared to 7 trillion and 190 billion last year, an increase of about 770 billion. On long-term loans, this year 1-7 month on 2 trillion and 770 billion, compared with the same period last year increased by more than about 340 billion, an increase of more than the overall credit growth rate of more than 2 trillion and 430 billion. Taking into account the factors of local government debt replacement, the actual increase in the first half of this year, more than corporate credit. This year, 1-7 local government bonds issued a total of 3 trillion and 970 billion, compared with the same period last year issued only 1 trillion and 420 billion, an increase of more than 2 trillion and 550 billion. If 23 of the bank loans to the public, then the actual 1-7 months of this year’s corporate credit may have been not shown by the incremental credit statistics show that 2 trillion and 620 billion. That is to say, this year 1-7 month 7 trillion and 990 billion credit is in)相关的主题文章:

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