Wen Bin, chief economist at Minsheng Bank, said that combined with internal and external factors, the implementation conditions for policy interest rate cuts are gradually being accumulated. At the press conference of the 3.21 China Information Office, the central bank stated that “the decline in deposit costs and the shift in monetary policies of major economies are conducive to broadening the autonomy of interest rate policy operations.” Looking back, expectations for the Fed to cut interest rates have heated up, and the pressure to stabilize the exchange rate has been relatively reduced compared to the previous period; under restrictions on ultra-self-regulatory deposits, there is strong certainty that annual deposit costs will drop significantly. In this context, if prices rebound and endogenous financing demand recovery is still not optimistic, actual financing costs need to be further reduced, thereby increasing the probability of reducing policy interest rates and LPR quotes.