In recent times, at least 20 banks have lowered their interest rates - interest rates on small and medium-sized bank deposits entering the 1 era

Recently, after the People's Bank of China announced a package of financial policies such as reserve requirement ratio cuts and interest rate cuts, many small and medium-sized banks in various regions have lowered deposit interest rates, especially with some long-term fixed deposit rates falling below 2%, entering the "1" era. According to incomplete statistics, since April this year, at least 20 small and medium-sized banks have lowered deposit interest rates. Why are small and medium-sized banks lowering deposit interest rates? According to Liang Si, a researcher at the China Banking Research Institute, under the moderately loose tone, the People's Bank of China issued a series of measures to support the development of the real economy in early May. The downward trend of policy interest rates will drive the overall decline of the interest rate system, leading to a downward trend in deposit interest rates. The pressure on commercial banks to narrow their interest margins has increased, which will inevitably strengthen liability cost management and maintain the ability to serve the real economy. Lowering deposit interest rates, especially high-cost deposits, is beneficial for optimizing liability structure, enhancing asset-liability matching, and improving liability management efficiency.