CITIC Securities Co., Ltd.: It is expected that the timing of the policy interest rate reduction will be in the second quarter

The market is generally focused on when the window for reserve requirement ratio cuts and interest rate reductions will open. Mingming, the chief economist of CITIC Securities Co., Ltd., stated that based on past experience, after the reduction of the re-lending rate, the overall space for interest rate cuts will also be opened accordingly. With a large number of fixed deposits maturing in the first quarter, the pressure on bank interest margins is expected to ease, and the timing for policy interest rate cuts is anticipated to be in the second quarter