The People’s Bank of China (PBoC) kept its key lending rates unchanged at record lows for a tenth straight month in March 2026, aligning with market expectations and signaling a preference for stability over aggressive stimulus. The one-year loan prime rate (LPR), the benchmark for most corporate and household borrowing, was held at 3.0%, while the five-year LPR, used for mortgages, remained at 3.5%. The cautious stance reflects surging oil prices and Middle East tensions clouding the inflation outlook, alongside Beijing’s lower 2026 growth target of 4.5%–5%, its weakest since 1991, reducing the urgency for broad easing. Still, early-year data pointed to resilience, with industrial output and retail sales beating forecasts and fixed-asset investment rebounding. Yet headwinds persist: externally, weak demand, trade frictions, and a strong dollar are pressuring the yuan; domestically, property sector strains, soft sentiment, and cautious hiring continue to weigh on consumption. source: People's Bank of China

The benchmark interest rate in China was last recorded at 3 percent. Interest Rate in China averaged 4.28 percent from 2013 until 2026, reaching an all time high of 5.77 percent in April of 2014 and a record low of 3.00 percent in May of 2025. 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 March of 2026.

The benchmark interest rate in China was last recorded at 3 percent. Interest Rate in China is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Loan Prime Rate is projected to trend around 3.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-20 01:15 AM Loan Prime Rate 1Y 3% 3% 3% 3.0%
2026-02-24 01:00 AM Loan Prime Rate 1Y 3% 3% 3% 3.0%
2026-03-20 01:15 AM Loan Prime Rate 1Y 3% 3% 3% 3.0%
2026-04-20 01:15 AM Loan Prime Rate 1Y
2026-05-20 01:15 AM Loan Prime Rate 1Y
2026-06-22 01:15 AM Loan Prime Rate 1Y


Related Last Previous Unit Reference
Banks Balance Sheet 4849457.45 4832496.90 CNY Hundred Million Feb 2026
Reserve Requirement Ratio for Large Banks 7.50 7.50 percent Feb 2026
Central Bank Balance Sheet 499862.79 493189.91 CNY Hundred Million Feb 2026
Foreign Exchange Reserves 3428000.00 3399000.00 USD Million Feb 2026
Interbank Rate 1.52 1.52 percent Mar 2026
Loan Prime Rate 1Y 3.00 3.00 percent Mar 2026
Liquidity Injections Via Reverse Repo 8.00 20.50 CNY Billion Mar 2026
Outstanding Loan Growth YoY 6.00 6.10 percent Feb 2026
Loans To Banks 2749358.27 2741013.66 CNY Hundred Million Feb 2026
Loans to Households 830772.39 837279.32 CNY Hundred Million Feb 2026
Money Supply M0 15143.64 14613.86 CNY Billion Feb 2026
Money Supply M1 115925.88 117968.05 CNY Billion Feb 2026
M2 Money Supply YoY 347190.00 340294.81 CNY Billion Jan 2026
7-Day Reverse Repo Rate 1.40 1.40 percent Mar 2026


China Loan Prime Rate
The People’s Bank of China (PBOC) on August 17th, 2019, designated the Loan Prime Rate (LPR) the new lending benchmark for new bank loans to households and businesses, replacing the central bank’s benchmark one-year lending rate. The rate is based on a weighted average of lending rates from 18 commercial banks, which will submit their LPR quotations, based on what they have bid for PBOC liquidity in open market operations, to the national interbank funding center before 9am CST on the 20th of every month.
Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.00 5.77 3.00 2013 - 2026 percent Daily

News Stream
China Holds LPR Rates at Record Lows for 10th Month
The People’s Bank of China (PBoC) kept its key lending rates unchanged at record lows for a tenth straight month in March 2026, aligning with market expectations and signaling a preference for stability over aggressive stimulus. The one-year loan prime rate (LPR), the benchmark for most corporate and household borrowing, was held at 3.0%, while the five-year LPR, used for mortgages, remained at 3.5%. The cautious stance reflects surging oil prices and Middle East tensions clouding the inflation outlook, alongside Beijing’s lower 2026 growth target of 4.5%–5%, its weakest since 1991, reducing the urgency for broad easing. Still, early-year data pointed to resilience, with industrial output and retail sales beating forecasts and fixed-asset investment rebounding. Yet headwinds persist: externally, weak demand, trade frictions, and a strong dollar are pressuring the yuan; domestically, property sector strains, soft sentiment, and cautious hiring continue to weigh on consumption.
2026-03-20
China Keeps LPR Rates Unchanged in February
The People’s Bank of China (PBoC) left its benchmark lending rates unchanged for a ninth consecutive month in February, in line with market expectations, signaling policymakers are not rushing to introduce broad monetary easing after recent targeted measures. The one-year loan prime rate (LPR) was held at 3.0%, while the five-year LPR, the benchmark for mortgage rates, remained at 3.5%. The steady decision comes as authorities balance growth support with financial stability risks. China met its roughly 5% growth target in 2025 on strong exports, but structural imbalances, trade frictions, and rising geopolitical uncertainty continue to cloud the outlook. Earlier this month, the central bank pledged to step up financial support to boost domestic demand as industrial overcapacity and weak consumption weigh on business confidence, while signaling scope for further reserve requirement ratio cuts and broader easing later this year.
2026-02-24
China Holds LPR Rates at Record Lows for 8th Month
The People’s Bank of China (PBoC) kept key lending rates at record lows for an eighth consecutive month in January, in line with market expectations, after earlier reductions to the central bank’s relending and rediscount facility rates had already taken effect. Last Thursday, the PBoC announced cuts to sector-specific interest rates of 25 bps, effective January 19, to provide an early boost to the economy. The one-year Loan Prime Rate (LPR), the benchmark for most corporate and household borrowing, remained at 3.0%, while the five-year LPR, which anchors mortgage rates, was unchanged at 3.5%. Both rates were last cut by 10 bps in May. The decision followed data released on Monday showing that GDP growth in 2025 met the official target of 5%, despite a lingering property sector crisis. Meanwhile, new yuan loans in December were significantly higher than in November and exceeded market expectations, supported by government stimulus measures aimed at boosting credit demand.
2026-01-20