Nomura: The People's Bank of China's policy measures meet expectations, maintaining the forecast of a 10 basis point cut in policy interest rates and a 50 basis point reserve requirement ratio reduction for the whole year

阿斯達克財經網
2026.01.16 06:31

野村報告指，人行昨日 (15 日) 公佈一系列措施基本符合預期。該行認為，人行自去年 9 月以來，為免助長本已過熱股市，應避免減息降準等高調貨幣寬鬆措施，今次行動是應對內地經濟動能急速惡化的正確做法，亦顯示內地當局對增長態勢日益關注。國務院上週五 (9 日) 承諾降低消費者和企業融資成本，今次寬鬆措施或有助解決相關問題。

報告引述人行副行長鄒瀾表示，存款準備金率與利率仍有下調空間，又指人民幣匯率目前相對穩定，美元處減息週期，匯率不構成強大制約。該行認為，人行今次行動及副行長的言論，與該行對今年一次性下調政策利率及存款準備金率分別 10 個及 50 個基點的預測相符，基本情境預計於第二季實現。

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