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Overnight Policy Rate (OPR) / 隔夜政策利率
OPR is the interest rate/profit rate at which a bank/financial institution lends to/receives from investment with another bank/financial institution. It only existed and used among bank/financial institution.
OPR directly affect Base Rate (BR) and Base Lending Rate (BLR), where a cut of 25 basis point of OPR (0.25%) will indicate a cut of 25 basis point of flexible rate financing loan as well.
OPR cut will also directly affect fixed deposit (FD) as FD rate paid by bank is a financial cost, which bank/financial institution "borrow" fund from depositor and lend to consumer, to finance their needs. Bank/financial institution hence profit from the difference of the borrowing cost and interest earned as a "margin".
隔夜政策利率是银行/金融机构之间利用手头上充裕的资金借出给另一家银行/金融机构的短期贷款利率(隔夜计算),且只在各银行/金融机构之间互相流通。
隔夜政策利率调整将直接影响基准率(BR)和基本贷款利率(BLR),25个基点(0.25%)的调降意味着相同的浮动贷款利率调降。
隔夜政策利率也直接影响定期存款利率,银行视定存利率为利息成本,通过向存款者"借贷"资金然后发放贷款,以便赚取"利率差"。
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