The People's Bank of China left key lending rates unchanged at the April fixing, in line with market expectations. Monday's decision came after the economy grew more than expected in Q1 of 2024 while the yuan faced renewed depreciation pressure. The 1-year loan prime rate (LPR), the benchmark for most corporate and household loans, was maintained at 3.45%. Meanwhile, the 5-year rate, a reference for property mortgages, was retained at 3.95% following a record reduction of 25bps in February. Both rates are at record lows, indicating that Beijing is continuing its attempt to spur an economic recovery following weak activity data in March due to headwinds from the property sector, lingering deflation risks, and fragile trade performance. Meanwhile, new yuan loans in March climbed to CNY 3.09 trillion from CNY 1.45 trillion in February but fell short of consensus. The PBoC last week held a medium-term lending rate while draining cash from the banking system for the second straight month. source: People's Bank of China
The benchmark interest rate in China was last recorded at 3.45 percent. Interest Rate in China averaged 4.29 percent from 2013 until 2024, reaching an all time high of 5.77 percent in April of 2014 and a record low of 3.45 percent in August of 2023. 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 April of 2024.
The benchmark interest rate in China was last recorded at 3.45 percent. Interest Rate in China is expected to be 3.15 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 3.15 percent in 2025 and 3.25 percent in 2026, according to our econometric models.