Currently, under the protection of the central bank's loose monetary policy, it is expected that the central rate of funds in August will be lower than that in July. At the same time, the listed interest rates of bank deposits have started a new round of cuts. It is expected that the trend of deposit migration will continue, and the liquidity of non-bank institutions will still be very abundant. The spread between the DR and R interest rates will narrow. It is expected that the monthly average of DR007 in August will be between 1.65% and 1.82%, and the monthly average of R007 will be between 1.72% and 1.90%.