China Interest Rate

Last Release

Mar 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) maintained its key lending rates unchanged for the fifth consecutive month in March, in line with market expectations. The one-year loan prime rate (LPR), a benchmark for most corporate and household loans, was held at 3.1%, while the five-year LPR, a reference for property mortgages, remained at 3.6%. Both rates are at record lows following reductions in October and July last year. The latest decision followed the U.S. Fed’s move to hold key interest rates while signaling the possibility of two rate cuts later this year. Meanwhile, the PBoC recently said it would lower again interest rates and the bank's reserve requirement ratio at the appropriate time to reverse the sluggish economy. On the fiscal front, Beijing rolled out more stimulus measures earlier in the month to boost domestic demand and consumption, and mitigate the impact of rising tariffs imposed by the US Trump administration.