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.
People's Bank of China
Interest Rate in China averaged 4.43 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 September of 2022.
Interest Rate in China is expected to be 3.60 percent by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 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.