China's central bank cuts 5-year LPR by 25 bps - Breaking The News

China's central bank cuts 5-year LPR by 25 bps

20 February

1 min read

EPA-EFE/MARK R. CRISTINO

The People's Bank of China (PBoC) announced it will keep its one-year loan prime rate (LPR) unchanged at 3.45%, while its five-year loan prime rate will be lowered by 25 basis points to 3.95% from the previous 4.2%.

The bank's decision to lower the five-year loan prime rate to 3.95% marks the first shift in the rate since June of 2023 when it was lowered by 10 basis points to 4.2%. The cut is also the largest since the introduction of that rate in 2019.

The PBoC cut its one-year loan prime rate by 0.1 percentage points in August of 2023 and kept the rate steady since.

interest rate pboc

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