China: PBoC Interest Rate - Loan Prime Rate 1Y

Macro

2026-05-01
Description

China's 1-Year Loan Prime Rate (LPR 1Y) is a benchmark interest rate published by the People's Bank of China (PBoC) and serves as a reference for short-term loan rates across the country.

The LPR 1Y is determined by the quotations from 18 designated banks, which base their rates on the Medium-term Lending Facility (MLF) rate plus a spread that considers funding costs and risk factors, enhancing the transmission of market rates to loan rates.

This rate is published on the 20th of each month, reflecting the average rate for short-term loans to prime customers.

Published by
People's Bank of China (Choice)
Frequency
Monthly
Next Update
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AI Data Insight

China's 1-year LPR for Q2 2026 (April) was maintained at 3.0%, flat from the previous quarter (Q1), remaining unchanged for 11 consecutive months and meeting market expectations. Constrained by commercial banks' net interest margins (NIM) at historical lows and the achievement of the Q1 GDP growth target, the PBOC's room for aggregate easing in the short term is limited, shifting its policy focus toward precise structural efforts.

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AI Data Insight

China's 1-year LPR for Q2 2026 (April) was maintained at 3.0%, flat from the previous quarter (Q1), remaining unchanged for 11 consecutive months and meeting market expectations. Constrained by commercial banks' net interest margins (NIM) at historical lows and the achievement of the Q1 GDP growth target, the PBOC's room for aggregate easing in the short term is limited, shifting its policy focus toward precise structural efforts.

Dive in →

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Macro
Description

China's 1-Year Loan Prime Rate (LPR 1Y) is a benchmark interest rate published by the People's Bank of China (PBoC) and serves as a reference for short-term loan rates across the country.

The LPR 1Y is determined by the quotations from 18 designated banks, which base their rates on the Medium-term Lending Facility (MLF) rate plus a spread that considers funding costs and risk factors, enhancing the transmission of market rates to loan rates.

This rate is published on the 20th of each month, reflecting the average rate for short-term loans to prime customers.

Published by
People's Bank of China (Choice)
Frequency
Monthly
Next Update
Hashtags