EUR/USD
1.15543
0.226%
Gold
4353.60
0.061%
Oil
80.690
0.331%
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159.138
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1.35261
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Real-time News
Maersk Shipping: Continue to operate cautiously in the Middle East.Polands energy minister stated that the cost of reimposing fuel price measures would reach approximately 500 million zlotys within two weeks.On August 14th, the Peoples Bank of China released data showing that the weighted average interest rate for newly issued corporate loans in July was slightly below 3.0%, about 0.2 percentage points lower than the same period last year. Experts stated that, in a longitudinal comparison, since the beginning of this interest rate cut cycle, the policy rate has cumulatively decreased by 1.15 percentage points, while the average interest rate for corporate loans has decreased by approximately 2.6 percentage points, a significantly larger decrease than the policy rate. In a horizontal comparison, during the period of zero policy interest rates in the United States, the average loan interest rate was still around 4.3%, relatively speaking, my countrys loan interest rates are already at a low level. Looking ahead, the experts stated that in the future, interest rates should be the primary indicator for observing the matching of credit supply and demand. In recent years, my country has achieved positive results in implementing the new development philosophy and promoting high-quality development, with profound adjustments to the industrial structure and a shift in growth drivers. The credit supply and demand situation reflects this economic structural transformation. Like other commodities, credit should primarily meet the needs of peoples production and daily life, without excessive focus on scale growth. my countrys M2 as a percentage of GDP is already quite high, and credit supply can meet the financing needs of the real economy. In the future, the focus should shift away from the scale of credit and towards price, i.e., changes in market interest rates.On August 14th, regarding the markets concern about idle funds, industry experts stated that M2 and total social financing are two different statistical indicators with different statistical methods. Its normal for their growth rates to differ, and theres no clear policy implication. One cannot judge whether funds are idling in the banking system simply by whether the M2 growth rate is higher than the total social financing growth rate. Furthermore, regarding deposit and loan growth rates, experts stated that in the context of diversified financing structures, its normal for deposit growth rates to exceed loan growth rates. In the past, lending was the main channel for deposit creation in my country, and deposit and loan growth rates were relatively close. In recent years, with the enrichment and development of the financial market, the lending channel has been increasingly replaced by other channels such as bonds in the process of deposit creation. When other channels like bonds grow rapidly, its normal for loan growth rates to be lower than deposit growth rates. In this context, its no longer appropriate to observe changes in the overall financial volume solely through loan growth rates or increases; instead, its necessary to focus on more comprehensive indicators such as M2 and total social financing.Sources say that oil exports from the port of Ust-Luga were not affected by the drone attack.
