The People's Bank of China (PBoC) held its benchmark interest rates steady on May 20th, as widely expected, as policymakers adopted a wait-and-see approach after data suggested the economic recovery in April and May had been much better than market forecasts. Still, investors expect Chinese authorities to launch more aggressive monetary and fiscal stimulus in coming weeks, possibly at China's annual National People's Congress (NPC) session starting on May 22nd. The one-year loan prime rate (LPR) was left unchanged at 3.85 percent from the previous monthly fixing while the five-year remained at 4.65 percent.

Interest Rate in China averaged 4.63 percent from 2013 until 2020, reaching an all time high of 5.77 percent in April of 2014 and a record low of 3.85 percent in April of 2020. 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 May of 2020. source: People's Bank of China

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. Looking forward, we estimate Interest Rate in China to stand at 3.50 in 12 months time. In the long-term, the China Loan Prime Rate is projected to trend around 3.50 percent in 2021, according to our econometric models.

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China Loan Prime Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.85 3.85 5.77 3.85 2013 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-02-20 01:30 AM 4.05% 4.15% 3.95%
2020-03-20 01:30 AM 4.05% 4.05% 3.95%
2020-04-20 01:30 AM 3.85% 4.05% 3.85% 3.85%
2020-05-20 01:30 AM 3.85% 3.85% 3.85% 3.85%
2020-06-22 01:30 AM 3.85% 3.7%
2020-07-20 01:30 AM 3.7%
2020-08-20 01:30 AM 3.7%
2020-09-21 01:30 AM 3.7%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
PBoC Keeps Policy Rate Unchanged at 3.85%
The People's Bank of China (PBoC) held its benchmark interest rates steady on May 20th, as widely expected, as policymakers adopted a wait-and-see approach after data suggested the economic recovery in April and May had been much better than market forecasts. Still, investors expect Chinese authorities to launch more aggressive monetary and fiscal stimulus in coming weeks, possibly at China's annual National People's Congress (NPC) session starting on May 22nd. The one-year loan prime rate (LPR) was left unchanged at 3.85 percent from the previous monthly fixing while the five-year remained at 4.65 percent.
2020-05-20
China Cuts Key Rate for Second Time this Year
The People's Bank of China (PBoC) lowered its benchmark interest rates by 20 bps to a record low of 3.85 percent on April 20th, matching market expectations. It is the second cut this year as policymakers sought to shore up the economy battling with the COVID-19 outbreak after it contracted by 6.8 percent year-on-year in Q1 2020, the first decline since at least 1992. The five-year loan prime rate (LPR) was also lowered by 10 bps to 4.65 percent and bigger than market consensus of a 5bps reduction.
2020-04-20
PBoC Leaves Key Policy Rates Unchanged
The People's Bank of China (PBoC) held its benchmark interest rates steady on March 20th, defying market forecasts that pointed to a reduction in borrowing costs amid widespread disruptions to businesses and activity from the Covid-19 crisis. The decision contrasted with other central bank's moves, as policymakers around the world have been unleashing massive stimulus packages to support their economies hurt by the pandemic. The one-year loan prime rate (LPR) was left unchanged at 4.05 percent from the previous monthly fixing while the five-year remained at 4.75 percent.
2020-03-20
China Holds Steady One-Year MLF Rate at 3.15%
The people Bank of China (PBoC) maintained borrowing cost on its medium term loans on 16th March, even after the Federal Reserve hours earlier slashed the target range for its federal funds rate by 100 bps to 0-0.25 percent . The one-year medium-term lending facility (MLF) loans were left unchanged at 3.15%. The move is expected to offer an indication for the country’s monthly benchmark loan prime rate (LPR) fixing, which is due to announce later this week. The PBoC also said that it injected CNY 100 billion into financial institutions on Monday.
2020-03-16

China Loan Prime Rate
The People’s Bank of China (PBOC) on August 17th, 2019, designated the Loan Prime Rate (LPR) the new lending benchmark for new bank loans to households and businesses, replacing the central bank’s benchmark one-year lending rate. The rate is based on a weighted average of lending rates from 18 commercial banks, which will submit their LPR quotations, based on what they have bid for PBOC liquidity in open market operations, to the national interbank funding center before 9am CST on the 20th of every month.