2026最新LPR出炉！上海房贷利率…

Core Viewpoint - The People's Bank of China (PBOC) has maintained the Loan Prime Rate (LPR) unchanged, with the 5-year rate at 3.5% and the 1-year rate at 3.0%, marking eight consecutive months without a reduction [1][4]. Group 1: Monetary Policy Actions - The PBOC conducted a 7-day reverse repurchase operation amounting to 158.3 billion yuan at a fixed rate of 1.40%, which remains unchanged [4][5]. - Despite the lack of a rate cut, the central economic work conference emphasized the continuation of a moderately loose monetary policy, indicating that rate cuts are not the only tool available [6]. Group 2: Structural Monetary Policy - On January 19, 2026, the PBOC announced its first structural "rate cut" of the year, reducing the re-lending and re-discount rates by 0.25 percentage points to support key sectors of the real economy [6]. - The new rates for re-lending to agriculture and small enterprises are set at 0.95%, 1.15%, and 1.25% for 3-month, 6-month, and 1-year terms, respectively, with the re-discount rate adjusted to 1.5% [6]. - This structural policy aims to lower the cost of funds for banks, encouraging them to provide lower-rate loans to small and micro enterprises, technological innovation, and green transformation, thereby reducing the overall financing costs for the real economy [6].