China Loan Prime Rate monthly setting from the People's Bank of China

1 year LPR 3.85%

  • expected 3.85%, prior 3.85%

5 year LPR 4.65%

  • expected 4.65%, prior 4.65%

These benchmark rates have been unchanged for 18 months. The People's Bank of China (PBOC) left the interest rate on its medium-term loans (MLF) unchanged last week. The MLF interest rate sets a baseline for commercial bank LPR rates so these unchanged again today comes as little surprise.