China's Central Bank Leaves Loan Prime Rates Unchanged for a 17th Month, at 3.0% and 3.5%

China's central bank held the one-year loan prime rate at 3.0% and the five-year rate at 3.5% on Tuesday, October 20, 2026, the 17th straight month without a change. According to a data provider, China's economy grew 4.5% in the third quarter, beating expectations and reducing the urgency of further support measures. The yuan has also strengthened on firm data. Governor Pan Gongsheng said on Monday, October 19, that the bank would push ahead with reforms to pricing benchmarks so lending relies less on the prime rate. Analysts say the central bank is considering moving its main policy rate to the overnight reverse repo rate; that is an analyst estimate and has not been officially announced. China is the largest buyer of Iranian oil, and its monetary policy bears on commodity demand and the yuan.