The central bank will raise interest rates again or consumers will cut furniture consumption budget
On April 5th, the People's Bank of China announced in the evening that the benchmark interest rate for RMB deposits and loans of financial institutions will be raised from April 6, 2011. Among them, the benchmark interest rates of one-year deposits and loans of financial institutions were raised by 0.25 percentage points, and the benchmark interest rates of deposits and loans of other grades and personal housing provident fund loans were adjusted accordingly. This is the second rate hike by the central bank this year and the fourth rate hike since last year. Will the central bank raise interest rates further in the future? Analysts generally believe that no signs of a halt in the pace of interest rate hikes by the central bank can be seen from the domestic and international economic environment. Liu Yuhui, director of the China Center for Economic Evaluation of the Chinese Academy of Social Sciences, said that after deducting price factors in the past 10 years, China ’s real interest rate was positive at 1.33%, and the current real interest rate is still negative, which does not rule out the central bank ’s follow-up actions. Interest rate hikes have further increased pressure on home buyers to repay loans. With this interest rate increase, the loan interest rate for more than five years has risen to 6.80%, which means that if it is a business loan of 1 million yuan, and the mortgage is based on the benchmark interest rate for 20 years, the monthly supply needs 7633 yuan, an increase of 118 yuan, and the total interest will be from 80.35 million yuan increased to 832,000 yuan. Provident fund loans, the interest rate of loans for more than five years this time increased to 4.70%, also calculated based on the 20-year mortgage of the above million mortgages, after this interest rate increase, the monthly monthly supply increased by 109 yuan, and the total interest increased by 260,000 yuan. In an interview with reporters, Ms. Wang, who lives in Panyu District, said that she bought a three-bedroom second-hand house at the end of last year. The renovation began earlier this year. Since two consecutive interest rate hikes this year, the pressure on her loan repayment is greater than once. The decoration is not over yet, so the budget for purchasing furniture will be reduced again in the future. It can be seen that the second rate hike this year and the possibility of future interest rate hikes will affect the home market, which will suffer from sales resistance. The furniture market also has such concerns. For more furniture information , go to http://news.gojiaju.com/ Gabion Wire,Gabion Wire Mesh,Gabion Mesh,Vidaxl Gabion ANPING HONGYU WIREMESH CO.,LTD , https://www.hongyu-wiremesh.com
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