State Council Information Office holds a major press conference: Reserve requirement ratio cut and interest rate cut are coming!

At 9 a.m. today, the State Council Information Office will hold a press conference, inviting officials from the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission to introduce the situation regarding "a package of financial policies to support market stability and expectations." At the conference, People's Bank of China Governor Pan Gongsheng announced a simultaneous reduction in the reserve requirement ratio and interest rates, lowering the reserve requirement ratio for financial institutions by 0.5 percentage points and reducing the policy interest rate by 0.1 percentage points, from the current 1.5% to 1.4%, while also lowering the housing provident fund interest rate by 0.25 percentage points