The People's Bank of China (PBoC) left its key lending rates unchanged for the fifth straight month at January fixing, as widely expected. The decision came on the last working day in China before the week-long Spring Festival holiday. The one-year loan prime rate (LPR), which uses for corporate and household loans, was kept unchanged at 3.65%; while the five-year rate, a reference for mortgages, was maintained at 4.3%. The central bank earlier in the week held steady its medium-term policy rate at 2.75% while offering more loans to some banks ahead of the Lunar New Year celebration. The PBoC in early January established a dynamic adjustment mechanism on mortgage rates for first-time home buyers. Meantime, PBoC's deputy governor Xuan Changneng recently said that the board had pledged to take further measures to boost market confidence and increase support for manufacturers and small companies, amid hopes that the economy will stage a solid rebound this year.
. source: People's Bank of China
Interest Rate in China averaged 4.40 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 February of 2023.
Interest Rate in China is expected to be 3.60 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 3.60 percent in 2024, according to our econometric models.