Depositors' incomes will be lower if banks drop the deposit rate. Most banks are not ready to face the aftermath.
That would increase unemployment and hurt our economy, and commercial banks could also face a difficult operating environment.
Banks are in now in a dilemma, so most dare not drop the rate due to the fierce competition.
The impact on the economy is that unemployment will increase and maybe commercial banks will face a difficult operating situation. It's a risk to our economy.