The People's Bank of China held steady its key rates for corporate and household loans at May fixing, but slashed the mortgage reference rate for the second time this year, amid a slowdown in the Chinese economy due to worst COVID-19 outbreak in more than two years, a property crisis, and weak loan demand. The one-year LPR was kept unchanged at 3.7% after cuts of 5 and 10 bps in December and January, while the five-year LPR was trimmed by 15 bps, the most since a revamp of the rate in 2019, to 4.45%. Recently, Chinese financial authorities allowed commercial banks to reduce the lower limit of interest rates on home loans by 20 bps, based on the corresponding tenor of benchmark LPRs for buying of first homes. The loan guidance came after the central bank data showing new bank loans in China plunged to their lowest in more than four years in April. During the first quarter, banks in many cities in China have cut mortgage rates after calls from authorities to support buyer sentiment. source: People's Bank of China

Interest Rate in China averaged 4.46 percent from 2013 until 2022, reaching an all time high of 5.77 percent in April of 2014 and a record low of 3.70 percent in January 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 May of 2022.

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 3.75 percent in 2023, according to our econometric models.

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China Loan Prime Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-21 01:15 AM 3.7% 3.7% 3.7%
2022-04-20 01:15 AM 3.7% 3.7% 3.7%
2022-05-20 01:15 AM 3.7% 3.7% 3.7%
2022-06-20 01:15 AM 3.7%
2022-07-20 01:15 AM
2022-08-22 01:15 AM


Related Last Previous Unit Reference
Interest Rate 3.70 3.70 percent May 2022
Cash Reserve Ratio 11.25 11.25 percent May 2022
Interbank Rate 2.55 2.68 percent May 2022
Money Supply M1 63610.00 64506.38 CNY Billion Apr 2022
Money Supply M0 9560.00 9514.19 CNY Billion Apr 2022
Money Supply M2 249970.00 249768.83 CNY Billion Apr 2022
Central Bank Balance Sheet 389336.03 398725.89 CNY HML Apr 2022
Foreign Exchange Reserves 3119700.00 3188000.00 USD Million Apr 2022
Banks Balance Sheet 645.40 3130.00 CNY Billion Apr 2022
Loans to Private Sector 9102.00 46531.00 CNY HML Apr 2022
Deposit Interest Rate 0.35 0.35 percent Apr 2022
Loan Growth 10.90 11.40 percent Apr 2022
Reverse Repo Rate 2.10 2.10 percent May 2022
Loans To Banks 2007906.57 2002913.34 CNY HML Apr 2022
Liquidity Injections Via Reverse Repo 10.00 10.00 CNY Billion Apr 2022
Lending Rate 4.35 4.35 percent Oct 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.70 5.77 3.70 2013 - 2022 percent Daily

News Stream
China Holds 1-Year LPR, Cuts Mortgage Reference Rate
The People's Bank of China held steady its key rates for corporate and household loans at May fixing, but slashed the mortgage reference rate for the second time this year, amid a slowdown in the Chinese economy due to worst COVID-19 outbreak in more than two years, a property crisis, and weak loan demand. The one-year LPR was kept unchanged at 3.7% after cuts of 5 and 10 bps in December and January, while the five-year LPR was trimmed by 15 bps, the most since a revamp of the rate in 2019, to 4.45%. Recently, Chinese financial authorities allowed commercial banks to reduce the lower limit of interest rates on home loans by 20 bps, based on the corresponding tenor of benchmark LPRs for buying of first homes. The loan guidance came after the central bank data showing new bank loans in China plunged to their lowest in more than four years in April. During the first quarter, banks in many cities in China have cut mortgage rates after calls from authorities to support buyer sentiment.
2022-05-20
China Holds Loan Prime Rate Unchanged
The People's Bank of China kept its benchmark interest rates unchanged for corporate and household loans at its April fixing although some investors were betting on a rate cut. The one-year loan prime rate (LPR) was left unchanged at 3.7% following cuts of 5 and 10 bps in December and January, respectively. The five-year rate was kept at 4.6% after a 5-basis-point cut in January. The PBoC last week cut its benchmark reserve requirement ratio for all banks by 25 bps, in an effort to boost the long-term funds for banks; and kept borrowing costs of its medium-term lending facility (MLF) steady for the third straight month. The central bank also urged financial institutions to step up support for the contact-intensive service sector and small firms impacted by COVID-19, it said in a statement Wednesday. Meantime, Premier Li Keqiang recently urged all localities to remain confident while being highly vigilant about unprecedented challenges and rising downward pressure.
2022-04-20
China Holds LPR Rate As Expected
The People's Bank of China maintained its benchmark interest rates for corporate and household loans at its March fixing, as widely expected. The one-year loan prime rate (LPR) was kept unchanged at 3.7 percent following cuts of 5 and 10 basis points in December and January, respectively; while the five-year rate was retained at 4.6 percent after a 5-basis-point cut in January. Last week, the central bank kept the rate on CNY 200 billion worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.85% from the previous operation. Meanwhile, Reuters reported that the the PBoC may cut MLF rate in April when China reports its first quarter growth. The Chinese central recently reaffirmed its commitment to stay accommodative and increase its support for key areas and weak links in the economy, amid volatile internal and external conditions that would require more counter-cyclical policy adjustment.
2022-03-21