[11 joint-stock banks cut deposit interest rates or provide a "cushion" for LPR reduction)-- following the announcement by six major state-owned banks to cut deposit interest rates on 8 June, 11 joint-stock banks also cut partial-term deposit rates one after another. After the interest rate was reduced, the listing rate of demand deposits in joint-stock banks was reduced to 0.2%. The five-year deposit rate was as high as 2.8%. Experts believe that this round of deposit interest rate cut may provide a "cushion" for the downside of LPR. With regard to the subsequent reduction of deposit interest rates, the chief economist of Citic Securities clearly said that under the background of financial profit-making entities and bank net interest margin pressure, deposit interest rates are going down, and it is expected that the self-regulatory management of deposit pricing will be further improved in the future. Deposit interest rates still have room for reduction. (Securities Daily)