"Long-term interest rate lower than short-term rate" seen again! Multiple banks' deposit rates inverted

In the era of low interest rates, the phrase "it is better to save for one year than for five years" is becoming increasingly common. On May 12th, Tianjin Bank announced the adjustment of the interest rates for its Seagull Savings and Happiness Savings products. Starting from May 13th, the bank's Seagull Savings products will have annual interest rates of 1.8%, 2%, and 1.75% for 2-year, 3-year, and 5-year terms, respectively. Among them, the annual interest rate for the 2-year Seagull Savings product has been raised by 5 basis points compared to before the adjustment, while the rates for the 3-year and 5-year terms have been decreased by 5 and 30 basis points, respectively. A comparison by a Chinese financial journalist found that not only did the interest rate for the 5-year Seagull Savings product decrease significantly, but after the adjustment, the annual interest rate is now lower than that of the 2-year term. This is not an isolated case, as the trend of "lower interest rates for longer terms" has been frequent in the recent round of interest rate adjustments by commercial banks in many areas.