The inter-seasonal funding situation shows resilience, and July is expected to maintain a loose pattern.

Jin10 data reported on July 1, in the face of multiple disruptive factors such as tax periods and the maturity of large amounts of interbank certificates of deposit, the overall performance of the funding situation at the end of June showed strong resilience, with short-term interest rates fluctuating moderately and market liquidity remaining reasonably abundant. Looking ahead to July, affected by factors such as fiscal payments, accelerated government bond supply, and tax periods, market liquidity may face temporary pressure. However, under the continuous support of the Central Bank and the flexible and moderate adjustment of monetary policy, the overall funding situation is expected to maintain a loose pattern. Industry insiders expect that despite some local disruptions, the interest rate center will generally remain stable, with DR007 likely fluctuating in the range of 1.5% to 1.6%, and there is still room for further make a strong push in monetary policy.