PBC Loan Prime Rate - China Chinese Central Bank interest rate
This page shows the current and historic values of the Loan Prime Rate as set by the Chinese Central Bank (People's Bank of China, PBC). The Loan Prime Rate is often regarded as the most important interest rate of the PBC.
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Date
|
Rate
|
|---|---|
|
08-21-2023
|
3.45 %
|
|
06-20-2023
|
3.55 %
|
|
08-22-2022
|
3.65 %
|
|
01-20-2022
|
3.70 %
|
|
12-20-2021
|
3.80 %
|
|
04-20-2020
|
3.85 %
|
|
02-20-2020
|
4.05 %
|
|
11-20-2019
|
4.15 %
|
|
09-20-2019
|
4.20 %
|
|
08-20-2019
|
4.25 %
|
Chart PBC loan prime rate
Historical interest ratesOur content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.
The People's Bank of China (PBC)
The People's Bank of China (PBC or PBOC) is the central bank of the People's Republic of China. There is no financial institution in the world which has more financial assets / resources than the People's Bank of China. Under the guidance of the State Council the PBC deals with drafting and implementing monetary policy. The most important aim of this is to maintain financial stability and the value of the currency in order to stimulate economic growth.
View the current and historical inflation in China
Other important tasks for the Central Bank of China are:
- issuing and administering the circulation of the Renminbi, the official currency of the People's Republic of China. The name means 'people's currency'. The unit of the renminbi is the yuan;
- regulating the interbank lending market and the interbank bond market;
- managing the official foreign currency and gold reserves;
- recording foreign exchange transactions and regulating the interbank trade in foreign currencies;
- managing the State's 'treasury';
- maintaining the normal functioning of payment traffic.
PBC Loan Prime Rate
When reference is made to the Chinese interest rate this often refers to the Loan Prime Rate. The Loan Prime Rate - also called the central bank base interest rate or base rate - is PBC's basic interest rate. By changing the Loan Prime Rate, the chinese central bank has a lot of influence over the rates which need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the Loan Prime Rate, the chinese central bank can also influence the exchange rates of the Chinese Renminbi.