Loan market quotation (LPR) is the quotation obtained by a representative quotation bank according to the loan interest rate of the bank to the best quality customers, plus the open market operating interest rate (mainly referring to the medium-term lending convenience interest rate). LPR is the benchmark loan interest rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. All financial institutions should mainly refer to LPR when pricing loans. According to the data of 65438+February 20th, 2023, the LPR of 1 year is 3.45%. This means that at this time, financial institutions can refer to this interest rate level when pricing the loan interest rate. The change of interest rate in the loan market will be influenced by many factors, including monetary policy, market supply and demand and economic situation.