The People's Bank of China (PBoC) maintained its key lending rates steady for the ninth straight month at the May fixing, as widely expected. The one-year loan prime rate (LPR), which is the medium-term lending facility used for corporate and household loans, was left unchanged at 3.65%; while the five-year rate, a reference for mortgages, was kept at 4.3%. The move came after the central bank held its medium-term policy rate at 2.75% last week. Also, the yuan weakened past the key threshold of 7 in both onshore and offshore trading after data showed factory output, retail sales, and fixed-asset investment all grew at a slower pace in April than economists forecast. At the same time, the yield gap between China's benchmark 10-year government bonds and their US counterparts is hovering at the widest level in two months.
. source: People's Bank of China
Interest Rate in China averaged 4.37 percent from 2013 until 2023, 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 June of 2023.
Interest Rate in China is expected to be 3.65 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 3.45 percent in 2024 and 3.50 percent in 2025, according to our econometric models.