China One-Year Medium-Term Lending Facility Rate was at 2.75 percent on Friday May 26. source: People's Bank of China

1 Year MLF Rate in China averaged 3.06 percent from 2016 until 2023, reaching an all time high of 3.30 percent in April of 2018 and a record low of 2.75 percent in August of 2022. This page includes a chart with historical data for China One-Year Medium-Term Lending Facility Rate. China One-Year Medium-Term Lending Facility Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

1 Year MLF Rate in China is expected to be 2.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China One-Year Medium-Term Lending Facility Rate is projected to trend around 2.75 percent in 2024, according to our econometric models.

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China One-Year Medium-Term Lending Facility Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-17 01:30 AM 2.75% 2.75% 2.75%
2023-05-15 01:30 AM 2.75% 2.75% 2.75%
2023-06-15 01:30 AM 2.75% 2.75%


Related Last Previous Unit Reference
Interest Rate 3.65 3.65 percent May 2023
Loan Prime Rate 5Y 4.30 4.30 percent May 2023

China One-Year Medium-Term Lending Facility Rate
In China, the One-Year Medium-Term Lending Facility Rate is the main rate at which the central bank lends to big commercial banks. The MLF rate acts as a guide for the PBOC’s new lending benchmark, the Loan Prime Rate (LPR).
Actual Previous Highest Lowest Dates Unit Frequency
2.75 2.75 3.30 2.75 2016 - 2023 percent Daily

News Stream
PBoC Holds 1-Year MLF Rate at 2.75%
The People's Bank of China (PBOC) launched a total of CNY 125 billion via a one-year medium-term lending facility (MLF) to some financial institutions and left the interest rate unchanged at 2.75% on Monday while rolling over MLF policy loans for the sixth consecutive month. With CNY 100 billion of MLF loans set to expire this month, the operation resulted in a net CNY 25 billion fresh fund injection into the banking system. The central bank also pumped CNY 2 billion through a seven-day reverse repurchase operation while keeping borrowing costs unchanged at 2%.
2023-05-15
China Keeps 1-Year MLF Rate at 2.75%
The People's Bank of China (PBOC) injected a total of CNY 170 billion via a one-year medium-term lending facility (MLF) to some financial institutions and held the interest rate unchanged at 2.75% on April 17th while rolling over MLF policy loans for the fifth consecutive month. With CNY 150 billion of MLF loans set to expire this month, the operation resulted in a net CNY 20 billion fresh fund injection into the banking system, the smallest since November. The central body also pumped CNY 20 billion through a seven-day reverse repurchase operation and kept borrowing costs at 2%.
2023-04-17
China Holds 1-Year MLF at 2.75%
The People's Bank of China (PBOC) injected a total of CNY 481 billion via a one-year medium-term lending facility (MLF) to some financial institutions and left the interest rate unchanged at 2.75% on Wednesday. With CNY 200 billion of MLF loans set to expire this month, the operation resulted in a net of CNY 281 billion fresh fund injection into the banking system. The central body also pumped CNY 104 billion through seven-day reverse repos while maintaining borrowing costs at 2%.
2023-03-15