People's Bank of China Loan Prime Rate (LPR) setting.
1-year set at 3.1%
- expected 3.1% and prior 3.1%
5-year set at 3.6%
- expected 3.6%, prior 3.6%
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As I posted earlier:
Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The one-year LPR and the over-five-year LPR are currently at 3.10% and 3.60%, respectively.
Recent moves:
July 22, 2024: The one-year LPR was reduced by 10 basis points to 3.35%, and the over-five-year LPR was lowered by 10 basis points to 3.85%.
- In August and September 2024, the People's Bank of China (PBOC) maintained the Loan Prime Rates (LPR) at the levels set in July.
October 21, 2024: The one-year LPR was further reduced by 25 basis points to 3.10%, and the over-five-year LPR was decreased by 25 basis points to 3.60%.
November 20, 2024: Both the one-year LPR and the over-five-year LPR were maintained at 3.10% and 3.60%, respectively.
December 20, 2024: The PBOC kept both the one-year LPR and the over-five-year LPR unchanged.
This article was written by Eamonn Sheridan at
www.forexlive.com.
