China Interest Rate

Last Release

Jan 20, 2025

Actual

3.1

Units In

3.1

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
5.77 Apr 2014	3.1 Oct 2024	4.29 %	2013-2025	People's Bank of China

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.

Latest Updates

The People’s Bank of China (PBoC) kept its key lending rates unchanged for the third consecutive month in January fixing, aligning with market expectations. The one-year loan prime rate (LPR), a benchmark for most corporate and household loans, was maintained at 3.1%, while the five-year LPR, which serves as a reference for property mortgages, was retained at 3.6%. Both rates are at record lows following rate reductions last year in October and July. However, the latest decision came amid renewed pressure on the yuan that limited the central bank's ability to ease further monetary policy, and growing caution about potential US policy shifts under the incoming Trump administration. On economic output, China's GDP grew by 5.4% yoy in Q4 2024, marking the fastest pace in 1-1/2 years, driven by a series of stimulus measures introduced since September. For the full year, the economy expanded by 5%, meeting the official target of around 5% but slowing from a 5.2% growth in 2023.