Chine Taux d'intérêt

The People’s Bank of China (PBoC) kept its key lending rates unchanged for the third consecutive month in January fixing, aligning with market expectations. 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, which serves as a reference for property mortgages, was retained at 3.6%. Both rates are at record lows following rate reductions last year in October and July. However, the latest decision came amid renewed pressure on the yuan that limited the central bank's ability to ease further monetary policy, and growing caution about potential US policy shifts under the incoming Trump administration. On economic output, China's GDP grew by 5.4% yoy in Q4 2024, marking the fastest pace in 1-1/2 years, driven by a series of stimulus measures introduced since September. For the full year, the economy expanded by 5%, meeting the official target of around 5% but slowing from a 5.2% growth in 2023.