On December 22, the interest rate was cut, and the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the Construction Bank, the Bank of Communications, and the China Merchants Bank officially announced the latest deposit interest rate table.
In terms of lump sum deposits and withdrawals, the interest rate of one-year fixed deposit is 1.45%, two-year is 1.65%, three-year is 1.95%, and five-year is 2%, respectively, down 0.1 percentage points, 0.2 percentage points, 0.25 percentage points and 0.25 percentage points from before.
The trend is clear, with the longer the maturity of the deposit, the greater the rate cut.
This is actually the third rate cut in 2023. There have already been two drops in June and September, and another in December. The relationship will drop once every three months.
The original intention of the interest rate cut is very clear, it is to stimulate the economy. Now that everyone is more willing to save, investment and consumption need to be boosted in order to promote economic development.
At the same time, the price increase is very low now, the price growth in November is negative, and the price increase in the previous November is only 0.3%, so there is also room to cut interest rates to stimulate the economy.
In a word, I don't want you to save money, I want you to spend it.
After the interest rate cut, it is really not cost-effective to keep the money in the bank, and you can consider allocating fixed income products, such as treasury bonds, or you can consider allocating the bond base.
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