According to Jinshi Data on September 20, the loan market benchmark rate (LPR) for September was released as scheduled, with the one-year and five-year varieties remaining unchanged, and the interest rate cut expectations of some market participants were dashed.

Industry insiders said that the current macroeconomic pressure is generally controllable, monetary policy has the conditions to adhere to the "self-centered" approach, and the effectiveness of the July LPR interest rate cut remains to be tested, so the urgency of continuing to cut interest rates in September is not high.

However, taking into account multiple factors such as promoting domestic demand and improving quotation quality, it is still expected that LPR will continue to decline this year, and a reduction in existing mortgage rates may also be on the way.