China: PBoC Interest Rate - Loan Prime Rate 1Y

Macro

2026-08-01

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

In the third quarter of 2026, China's 1-year LPR quotation was maintained at 3.0%, unchanged from the previous value, remaining on hold for 14 consecutive months and in line with market expectations. Given the pressure on banks' net interest margins and external inflation risks, the PBOC's room for short-term interest rate cuts is limited, and the future policy focus is expected to shift towards fiscal stimulus to support the economy.

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AI Data Insight

In the third quarter of 2026, China's 1-year LPR quotation was maintained at 3.0%, unchanged from the previous value, remaining on hold for 14 consecutive months and in line with market expectations. Given the pressure on banks' net interest margins and external inflation risks, the PBOC's room for short-term interest rate cuts is limited, and the future policy focus is expected to shift towards fiscal stimulus to support the economy.

Dive in →

You May Also Like

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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