China Interest Rates

Last ReleaseFeb 20, 2026

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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.

Latest Updates

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.

Historical Data

Highest	Lowest	Average	Date Range	Source
5.77	3	4.28 %	2013-2026	People's Bank of China