Financial News: China Keeps Loan Prime Rate Unchanged

China Keeps Loan Prime Rate Unchanged

10/20/2026 - 01:28:00 (RTTNews)

(RTTNews) - China maintained its loan prime rates for seventeenth consecutive month, as widely expected, on Tuesday.

The People's Bank of China left its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent.

The bank had reduced its both LPRs by quarter points in October 2024 and 10 basis points each in May 2025.

The central bank sets the LPR monthly based on the submissions of 20 designated banks, though Beijing has influence over the fixing. The LPR replaced the traditional benchmark lending rate in August 2019.

Data released on Monday showed that China's economic growth accelerated more than expected to 4.5 percent in the third quarter despite challenges posed by property market downturn and soft domestic demand.

The economy logged an expansion of 4.6 percent in the nine months to September, bolstering prospects that the government will achieve its full-year growth target without initiating more stimulus measures.

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