[Central Bank: There is still room for RRR and interest rate cuts this year] Golden Finance reports that Zou Lan, spokesperson and deputy governor of the People's Bank of China, stated at a press conference held by the State Council Information Office on January 15 that there is still room for reserve requirement ratio (RRR) and interest rate cuts this year. From the perspective of the statutory deposit reserve ratio, the current average statutory deposit reserve ratio for financial institutions is 6.3%, indicating that there is still room for RRR cuts. From the perspective of policy interest rates, in terms of external constraints, the RMB exchange rate is currently relatively stable, and the U.S. dollar is in a rate-cutting cycle, meaning the exchange rate does not pose strong constraints. In terms of internal constraints, since 2025, banks' net interest margins have shown signs of stabilization. In 2026, there will be a significant amount of long-term deposits maturing, including 3-year and 5-year deposits. The recent reduction in rates for various structural monetary policy tools will help lower banks' interest payment costs, stabilize net interest margins, and create room for interest rate cuts. (Securities Times)