Guandian Real Estate Network News: On June 22, the People's Bank of China authorized the National Interbank Funding Center to announce that the loan market quoted interest rate (LPR) on June 22, 2020 was: 1-year LPR was 3.85 , the LPR over 5 years is 4.65.
The loan market quoted interest rate (LPR) announced on May 20, 2020 is: 1-year LPR is 3.85, and 5-year and above LPR is 4.65.
According to Guan Guan Real Estate New Media, on May 26, Yi Gang, Governor of the People's Bank of China, said that the next step will be to continue to deepen the LPR reform and clear the transmission channel from money market interest rates to loan interest rates. Promote the reduction of real loan interest rates and support the development of the real economy. At the same time, the benchmark conversion of existing loans will be promoted in an orderly manner.
During the two sessions, Yi Gang said in an interview with the media that interest rates are the most important financial factor price, and promoting the market-based reform of interest rates is one of the most important reforms in the financial field. The goal is to improve the market-oriented Determine the price mechanism and steadily promote the integration of deposit and loan benchmark interest rates with market interest rates.
He mentioned that the People's Bank of China had liberalized loan and deposit interest rate controls in July 2013 and October 2015 respectively. In August 2019, the People's Bank of China launched reforms to improve the formation of the Loan Prime Rate (LPR). Since the establishment of the mechanism, the correlation between LPR and market capital supply and demand has been significantly enhanced; the transmission efficiency of monetary policy has been significantly enhanced; it has effectively promoted the reduction of real loan interest rates; the LPR reform has also played an important role in promoting the market-oriented reform of deposit interest rates.
It is reported that in terms of interest rate marketization reform in the next step, Yi Gang said that he will continue to implement the financial opening up measures announced in recent years, ensure that all measures are effectively implemented, and attract more foreign investment and private financial institutions to enter. Chinese market. Promote the full implementation of the pre-establishment national treatment plus negative list system, set unified access standards, and promote systematic and institutionalized opening up. In the next step, the People's Bank of China will continue to deepen the LPR reform, clear the transmission channel from money market interest rates to loan interest rates, promote the reduction of real loan interest rates, and support the development of the real economy. At the same time, the benchmark conversion of existing loans will be promoted in an orderly manner.