The 1-Year Loan Prime Rate (LPR) is the benchmark interest rate used by commercial banks in China to price loans for corporate and household borrowers. It is set monthly by the People's Bank of China (PBOC) based on quotes from a panel of major commercial banks. As the primary lending reference, it directly impacts borrowing costs and liquidity in the world's second-largest economy. Changes in the LPR are a key tool for Chinese authorities to manage economic growth and inflation.
The PBOC collects quotes from 18 designated banks, which submit their rates as a spread over the Medium-term Lending Facility (MLF) rate. The PBOC then calculates and publishes the weighted average of these quotes.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Aug 20, 2026 | 3.00 | 3.00 | 0.00 |
| Jul 20, 2026 | 3.00 | 3.00 | 0.00 |
| Jun 22, 2026 | 3.00 | 3.00 | 0.00 |
| May 20, 2026 | 3.00 | 3.00 | 0.00 |
| Apr 20, 2026 | 3.00 | 3.00 | 0.00 |
| Jan 20, 2026 | 3.00 | 3.00 | 0.00 |
| Dec 22, 2025 | 3.00 | 3.00 | 0.00 |
| Nov 20, 2025 | 3.00 | 3.00 | 0.00 |
| Oct 20, 2025 | 3.00 | 3.00 | 0.00 |
| Sep 22, 2025 | 3.00 | 3.00 | 0.00 |
| Aug 20, 2025 | 3.00 | 3.00 | 0.00 |
| Jul 21, 2025 | 3.00 | 3.00 | 0.00 |
| Jun 20, 2025 | 3.00 | 3.00 | 0.00 |
| May 20, 2025 | 3.00 | 3.00 | 0.00 |
| Apr 21, 2025 | 3.10 | 3.10 | 0.00 |
| Mar 20, 2025 | 3.10 | 3.10 | 0.00 |
| Feb 20, 2025 | 3.10 | 3.10 | 0.00 |
| Jan 20, 2025 | 3.10 | 3.10 | 0.00 |
| Dec 20, 2024 | 3.10 | 3.10 | 0.00 |
| Nov 20, 2024 | 3.10 | 3.10 | 0.00 |
| Oct 21, 2024 | 3.10 | 3.15 | -0.05 |
| Sep 20, 2024 | 3.35 | 3.35 | 0.00 |
| Aug 20, 2024 | 3.35 | 3.35 | 0.00 |
| Jul 22, 2024 | 3.35 | 3.45 | -0.10 |
| Jun 20, 2024 | 3.45 | 3.45 | 0.00 |
| May 20, 2024 | 3.45 | 3.45 | 0.00 |
| Apr 22, 2024 | 3.45 | 3.45 | 0.00 |
| Mar 20, 2024 | 3.45 | 3.45 | 0.00 |
| Feb 20, 2024 | 3.45 | 3.30 | +0.15 |
| Jan 22, 2024 | 3.45 | 3.45 | 0.00 |
| Dec 20, 2023 | 3.45 | 3.45 | 0.00 |
| Nov 20, 2023 | 3.45 | 3.45 | 0.00 |
| Oct 20, 2023 | 3.45 | 3.45 | 0.00 |
| Sep 20, 2023 | 3.45 | 3.45 | 0.00 |
| Aug 21, 2023 | 3.45 | 3.40 | +0.05 |
| Jul 20, 2023 | 3.55 | 3.55 | 0.00 |
| Jun 20, 2023 | 3.55 | 3.55 | 0.00 |
| May 22, 2023 | 3.65 | 3.65 | 0.00 |
| Apr 20, 2023 | 3.65 | 3.65 | 0.00 |
| Mar 20, 2023 | 3.65 | 3.65 | 0.00 |
| Feb 20, 2023 | 3.65 | 3.65 | 0.00 |
| Jan 20, 2023 | 3.65 | 3.65 | 0.00 |
| Dec 20, 2022 | 3.65 | 3.65 | 0.00 |
| Nov 21, 2022 | 3.65 | 3.65 | 0.00 |
| Oct 20, 2022 | 3.65 | 3.65 | 0.00 |
| Sep 20, 2022 | 3.65 | 3.65 | 0.00 |
| Aug 22, 2022 | 3.65 | 3.60 | +0.05 |
| Jul 20, 2022 | 3.70 | 3.70 | 0.00 |
| Jun 20, 2022 | 3.70 | 3.70 | 0.00 |
| May 20, 2022 | 3.70 | 3.70 | 0.00 |
