[Repost] The main reasons are: 1) Since 2024, the 5-year LPR was lowered in February and July, and the 1-year LPR was lowered in July. The timing is not fast. If it is lowered again in September, the timing would be too tight. 2) The money supply is insufficient. Although the year-on-year growth of total social financing has bottomed out and the slope has slowed, M2 growth has declined sharply in 2024 with a steep slope. This means banks do not have much lendable funds. 3) Fixed-income bond wealth management products in 2024 have flocked to safe-haven assets, aggressively trading government bonds. The bubble in safe-haven dividend assets has led to better returns for bond wealth management products in 2024. This has exacerbated the deterioration of bank deposit trends. 4) The current conditions for banks' net interest margins are also poor, coupled with expectations of additional cuts in existing mortgage rates. The central bank may avoid making things worse for banks and wait for the right time to cut LPR in 2025.$Intel(INTC.US)$NVIDIA(NVDA.US)$Tesla(TSLA.US)