The People's Bank of China authorized the National Bank of China Interbank Borrowing Center announced that on April 20, 2023, the loan market quotation interest rate (LPR) was: 1 -year LPR was 3.65%, and the LPR of more than 5 years was 4.3%.All were consistent with last month.China LPR has remained unchanged for 8 consecutive months.

According to the surging news report, LPR is within the market expectations this month.On the one hand, the interest rate (MLF) interest rate (MLF) interest rate for the foundation of LPR quotation has not been adjusted this month. The MLF excess scale of MLF in April (RMB, about 4 billion yuan) is continued, which is the lowest time in the recent period.Level; on the other hand, under the context of continuing recovery of credit demand and still under pressure from bank interest margins, the room for further downside by policy interest rates and bank LPR quotations is also narrowing.

In the first quarter press release of the Monetary Policy Committee of the People's Bank of China, when the central bank mentioned interest rates, the central bank would "reduce the loan interest rate significantly decline" from the background of "promoting reduction" from "promoting".The transition to "steady and fall".

LPR has lowered three months in 2022, and the cumulative 1 -year LPR and 5 -year LPR have decreased by 15 basis points and 35 basis points.constant.

The loan market quotation interest rate (LPR) is quoted by each quotation bank according to the public market operating interest rate (mainly referring to the convenient interest rate of medium -term lending).Loan provides pricing reference.At present, LPR includes two varieties of 1 and 5 years.