The People's Bank of China (PBoC) kept its key lending rates unchanged for the third straight month at November fixing, amid continued downward pressure on the yuan and a slowdown in economic activity due to rising COVID cases and restrictions or lockdowns in several cities. The one-year loan prime rate (LPR), which uses for corporate and household loans, was kept at 3.65%; while the five-year rate, a reference for mortgages, was maintained at 4.3%. Lowering interest rates to revive the slowing economy could further widen China’s monetary policy against major economies, especially the US, which could trigger capital outflows. The central bank last week maintained its medium-term policy rate at 2.75% while partially rolling over maturing loans. China last cut both LPRs in August to support the economy. source: People's Bank of China
Interest Rate in China averaged 4.41 percent from 2013 until 2022, reaching an all time high of 5.77 percent in April of 2014 and a record low of 3.65 percent in August of 2022. This page provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Loan Prime Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Interest Rate in China is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Loan Prime Rate is projected to trend around 3.70 percent in 2023, according to our econometric models.