China: PBoC Interest Rate - Loan Prime Rate 1Y

Macro

2026-11-01

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 fourth quarter (October) of 2026, China's 1-year Loan Prime Rate (LPR) quotation was maintained at 3.0%, flat from the previous period and on hold for 17 consecutive months. Although the real economy still requires funding support, the central bank is promoting reforms to the loan interest rate pricing benchmark. The market's future focus will shift from a single LPR to a more diversified transmission of short-term policy interest rates.

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AI Data Insight

In the fourth quarter (October) of 2026, China's 1-year Loan Prime Rate (LPR) quotation was maintained at 3.0%, flat from the previous period and on hold for 17 consecutive months. Although the real economy still requires funding support, the central bank is promoting reforms to the loan interest rate pricing benchmark. The market's future focus will shift from a single LPR to a more diversified transmission of short-term policy interest rates.

Dive in →

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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