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.

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China Loan Prime Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-20 01:15 AM 3.7% 3.7% 3.7%
2022-08-22 01:15 AM 3.65% 3.7% 3.6%
2022-09-20 01:15 AM 3.65% 3.65% 3.65% 3.65%
2022-10-20 01:15 AM 3.65% 3.65%
2022-11-21 01:15 AM
2022-12-20 01:15 AM


Related Last Previous Unit Reference
Interest Rate 3.65 3.65 percent Sep 2022
Cash Reserve Ratio 11.25 11.25 percent Sep 2022
Interbank Rate 2.94 2.94 percent Oct 2022
Money Supply M1 66460.00 66183.23 CNY Billion Aug 2022
Money Supply M0 9720.00 9650.92 CNY Billion Aug 2022
Money Supply M2 259510.00 257807.86 CNY Billion Aug 2022
Foreign Exchange Reserves 3055000.00 3104000.00 USD Million Aug 2022
Central Bank Balance Sheet 384642.28 385627.47 CNY HML Aug 2022
Banks Balance Sheet 1250.00 679.00 CNY Billion Aug 2022
Loans to Private Sector 24300.00 7561.00 CNY HML Aug 2022
Deposit Interest Rate 0.35 0.35 percent Aug 2022
Loan Growth 10.90 11.00 percent Aug 2022
Reverse Repo Rate 2.00 2.00 percent Sep 2022
Liquidity Injections Via Reverse Repo 175.00 135.00 CNY Billion Sep 2022
Loans To Banks 2073973.65 2061068.91 CNY HML Aug 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
3.65 3.65 5.77 3.65 2013 - 2022 percent Daily

News Stream
China Holds LPR Lending Benchmark Unchanged
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.
2022-09-20
China Cuts LPR Rates for Second Time this Year
The People's Bank of China lowered its key loan prime rates (LPR) at August fixing, the second reduction this year, as the board stepped up efforts to revive borrowing demand amid repeated COVID-19 outbreaks and lingering property downturn. The one-year loan prime rate (LPR), which uses for corporate and household loans, was cut by 5 bps to a record low of 3.65%, while the 5-year LPR, which influences the pricing of home mortgages, was slashed for the second time this year by 15 bps to 4.30%. The move came after the central bank last week unexpectedly trimmed the one-year medium-term lending facility (MLF) rate and another short-term liquidity tool after July data showed the Chinese economy was losing momentum amid slowing global growth.
2022-08-22
China Keeps LPR Lending Benchmark Unchanged
The People's Bank of China held steady its key rates for corporate and household loans at July fixing, as the central bank is trying to support ongoing economic recovery in the wake of COVID-19 outbreaks. The one-year loan prime rate (LPR) was left unchanged at 3.7%; while the five-year rate, a reference for mortgages, was maintained at 4.45%. The board last week rolled over a maturing one-year medium-term lending facility (MLF) at an unchanged rate of 2.85% for the sixth straight month. PBoC's governor Yi Gang said recently that China will step up the implementation of the sound monetary policy, amid external shocks and uncertainty due to the coronavirus Meantime, Bloomberg said that rate hikes in major economies have limited China's room for monetary easing. A recent mortgage payment boycott by buyers of unfinished homes had prompted calls for more policy help for the property sector, including a reduction in the five-year LPR. The last reduction in mortgage rates was in May.
2022-07-20