Chine Taux d'intérêt

The People's Bank of China (PBoC) left its key lending rates unchanged for the sixth consecutive month in April, aligning with market expectations as the central bank waits to assess the evolving impact of U.S. trade disputes before introducing further stimulus. The one-year loan prime rate (LPR), a benchmark for most corporate and household loans, was maintained at 3.1%, while the five-year LPR, a reference for property mortgages, remained at 3.6%. Both rates are at record lows following reductions in October and July of last year. The latest decision came after GDP grew more than expected, at 5.4% year-on-year in Q1 of 2025, remaining the highest growth in one and a half years, amid Beijing's ongoing stimulus efforts. Beijing is prioritizing the boost of domestic consumption, including an additional CNY 300 billion in ultra-long special treasury bonds for a consumer goods trade program.