Analyst: There is a possibility of comprehensive policy rate cuts in the second quarter, which could lead to a decrease in LPR.

Wang Qing, chief macroeconomic analyst at Orient Securities, believes that in January of this year, the People's Bank of China introduced a package of structural monetary policies in advance, in response to the economic and financial situation, strengthening support for key areas and weak links of the national economy such as technology innovation and small and micro enterprises. This also means that the monetary policy is in a period of observation in the short term, and policy rates and LPR quotations are expected to remain stable. Wang Qing believes that after the initial interest rate cut with structural monetary policy tools at the beginning of the year, a comprehensive policy interest rate cut may be implemented in the second quarter, leading to a follow-up reduction in LPR, thereby guiding down business and household loan interest rates.