China: PBoC Interest Rate - Loan Prime Rate 1Y

Macro

2026-06-01

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 May 2026, China's 1-year LPR was reported at 3.0%, remaining flat from the previous value and fully meeting market expectations. Against the backdrop of bank net interest margins dropping to historic lows and the PBOC's monetary policy shifting toward "precise and effective" fine-tuning, the unchanged LPR highlights a reduced urgency for broad interest rate cuts in the short term.

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AI Data Insight

In May 2026, China's 1-year LPR was reported at 3.0%, remaining flat from the previous value and fully meeting market expectations. Against the backdrop of bank net interest margins dropping to historic lows and the PBOC's monetary policy shifting toward "precise and effective" fine-tuning, the unchanged LPR highlights a reduced urgency for broad interest rate cuts in the short term.

Dive in →

You May Also Like

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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