The People's Bank of China kept steady its key rates for corporate and household loans at September fixing, as widely expected, amid a rapid decline in yuan. The one-year loan prime rate (LPR) was held unchanged at 3.65%; while the five-year rate, a reference for mortgages, was maintained at 4.3%. The move came after the central bank last week maintained its medium-term policy rate while draining some liquidity from the banking system. The board on Monday, meanwhile, lowered the borrowing cost of 14-day reverse repos from 2.25% to 2.15% to revive credit and prop up the slowing economy, resuming the tool operations for the first time since late January. In August, China cut key interest rates following a new wave of COVID-19 and a lingering property downturn. source: People's Bank of China
Interest Rate in China averaged 4.42 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 October of 2022.
Interest Rate in China is expected to be 3.45 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.