Xinhua News Agency, April 26, the Economic Daily article pointed out that the recent reduction of deposit interest rates by some small and medium-sized banks is more of a market-oriented behavior of financial institutions. In September last year, large state-owned banks cut deposit rates one after another. since then, a number of joint-stock commercial banks have also cut deposit rates. The banks that have cut interest rates recently are basically small and medium-sized banks that have not adjusted interest rates before. In addition, as the loan interest rate continues to decline and the bank's asset-side income goes down, if the deposit interest rate is high for a long time and the cost on the debt side is high, the bank interest margin will be greatly narrowed, which may lead to profit pressure. it may even affect the sound operation of banks and the sustainability of serving the real economy. Therefore, the reduction of deposit interest rate is also an independent decision made by banks based on their own operational considerations.