China interest rate
People's Bank of China
- Policy rate
- 3.00%
- Sep 19, 2026
- Last move
- None
- in the past year
- Inflation
- 0.8%
- Aug 2026
- 10-year bond yield
- 1.71%
- Jul 2026
The policy rate set by the People's Bank of China is 3.00% as of Sep 19, 2026. It has not changed the rate in the past year. With consumer prices up 0.8% over the 12 months to Aug 2026, the real rate (policy rate minus inflation) is +2.2%: borrowing costs are above inflation.
Policy rate over the past two years
Sep 19, 2026: 3.00%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| May 2025 | Cut | 3.10% | 3.00% | −0.10 pt |
| Oct 2024 | Cut | 3.35% | 3.10% | −0.25 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Aug 2026: 0.8%
10-year government bond yield
Jul 2026: 1.71%
Other central banks in Asia
Source: BIS; inflation: IMF CPI; bond yield: OECD. Updated daily. All central bank rates · China economy dashboard