The Central Bank Sends 20 Billion Directional Central Bank Votes &Nbsp; The Possibility Of Raising The Deposit Rate Is Smaller Or Smaller.

Recent market rumors

Because interest rates are relatively low, directional central banks are considered to be banks.

Societe Generale Bank (13.13, -0.09, -0.68%) (micro-blog) capital operations center analyst Jiang Shu told the "daily economic news" reporter, "the amount of 20 billion yuan oriented central bank is not large, but issued a follow-up monetary policy" stable and tight "signal to the market.

At the same time, he said that the directional central bank has a certain substitution effect on the deposit reserve ratio and other monetary instruments.

The downturn in the stock market is eager for the central bank to extend its "rescue hands".

According to Wind information data, from August 12th to September 11th, the central bank's maturity funds amounted to 367 billion yuan, the volume of withdrawal was 145 billion yuan, and the net investment was 222 billion yuan.

Since September 5th, the central bank has invested 100 billion yuan in net investment.

In this regard, Jiang Shu believes that "if the policy is loose, in the short term, there will be an incentive for the stock market.

But the central bank can not only consider the stock market and bond market, the central bank still has to consider macro variables.

According to the data published by the National Bureau of statistics on 9, August

"Although CPI has declined, it is still running at a high level of over 6%.

Therefore, at this point in time, the central bank's monetary policy should be stable and tight.

Jiang Shu believes that the number of 20 billion directional central bank votes is not large, and the impact on banks and the market is limited, but it may be a signal to the market, that is, "stable and tight".

Since the beginning of this year, the central bank has raised the deposit reserve ratio every month in the first 6 months, plus 3 interest rates in 9 months. Since July, the central bank has adopted the open market operation mode to control the credit scale.

The data in August were not optimistic after the number and price tools were put together.

Jiang Shu pointed out that the directional central bank came into being before the RMB exchange rate remained unchanged in 2005.

Compared with raising the deposit reserve rate and raising interest rates, Jiang Shu believes that the directional central bank will be more comfortable for banks.

"Although the rate of return can not be as high as that of the same period, there is still at least some income.

If the central bank carries out credit control and control, some investment opportunities of banks will be completely lost.

Directional central bank votes can balance the supply and demand sides.

"Tools are diverse, and all kinds of things need to be used.

These tools can be substituted for each other, and the probability of raising the deposit rate again is smaller. "

Jiang Shu said.