近年来，随着全球多国央行持续推行宽松货币政策，‘存款零利率时代’的讨论日益升温。所谓‘零利率’，指的是银行对储户的活期或定期存款不再支付利息，甚至在极端情况下可能实施‘负利率’，即储户需为存款支付费用。这一现象已在日本、欧洲部分国家出现，中国虽尚未进入负利率阶段，但存款利率已连续多年下行，一年期定存利率一度跌破1.5%。推动利率走低的主要原因包括经济增长放缓、通胀低迷以及刺激消费与投资的政策需求。央行希望通过压低利率鼓励民众减少储蓄、增加支出，从而激活经济。然而，对普通储户而言，存款收益缩水意味着财富保值难度加大，尤其对依赖利息收入的退休人群影响显著。尽管目前中国仍维持正利率，但若经济复苏乏力、通缩压力上升，未来不排除进一步降息甚至接近零利率的可能。专家建议，居民应适当调整资产配置，考虑多元化投资如债券、基金或稳健型理财产品，以应对低利率环境下的财富管理挑战。
In recent years, as central banks around the world continue to implement accommodative monetary policies, discussions about the arrival of a ‘zero-interest era’ for bank deposits have intensified. ‘Zero interest’ refers to banks no longer paying interest on customers’ savings or time deposits—and in extreme cases, even charging depositors fees (known as negative interest rates). This phenomenon has already emerged in countries like Japan and parts of Europe. Although China has not yet entered negative territory, deposit rates have been steadily declining for years, with the one-year fixed deposit rate occasionally dipping below 1.5%.The main drivers behind falling interest rates include slowing economic growth, persistently low inflation, and policy efforts to stimulate consumption and investment. Central banks hope that lower rates will discourage saving and encourage spending, thereby revitalizing the economy. However, for ordinary savers, shrinking deposit returns make wealth preservation more difficult—particularly impacting retirees who rely on interest income.While China still maintains positive interest rates, if economic recovery remains weak and deflationary pressures grow, further rate cuts—or even rates approaching zero—cannot be ruled out. Experts recommend that individuals adjust their asset allocation strategies, considering diversified investments such as bonds, mutual funds, or stable financial products to better navigate the challenges of a low-rate environment.
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