China October 20 One-Year LPR Announced: Benchmark Loan Interest Rate

The People’s Bank of China and the China Foreign Exchange Trade System announced China’s one-year Loan Prime Rate (LPR) as of October 20, 2026.**What is the Loan Prime Rate?**The Loan Prime Rate (LPR) is the benchmark interest rate banks offer to their highest-quality clients. Each bank quotes the rate based on its own situation, adding a certain number of basis points to the open market operations rate. The rates are then aggregated and published by a central institution authorized by the central bank, serving as a reference standard for lending across the economy.**How is the rate determined?**When issuing loans, banks adjust the final loan interest rate above or below the LPR according to the borrower’s credit rating, collateral, loan term, and other factors.**Release Information**This indicator is classified as Level 3 in terms of importance and is published as a percentage (%). The data is released monthly on the 20th. The next release is scheduled for 9:00 a.m. on November 23, 2026.