以上LPR在下一次发布LPR之前有效。 经济观察网据央视新闻客户端消息，中国人民银行授权全国银行间同业拆借中心公布，2025年11月20日 贷款市场报价利率(LPR)为：1年期LPR为3.0%，5年期以上LPR为3.5%。 ...

中国人民银行授权全国银行间同业拆借中心公布，2025年11月20日贷款市场报价利率(LPR)为：1年期LPR为3.0%，5年期以上LPR为3.5%。以上LPR在下 一次发布LPR之前有效。 这是LPR自6月份以来连续6个月保持不变。 SFC 来源丨央行网站 ...

来源丨央行网站 编辑丨黎雨桐 闻泰科技内部人士：公司对荷兰安世的合法权益尚未恢复 英伟达净利润大增65%，盘后拉涨超4%，美联储降息曝重大分歧 重磅并购 中金收购东兴 信达 三大券商同日停牌 SFC 21君荐读 重磅并购，中金收购东兴、信达，三大券商同日停牌 中 国 人 民 银 行 授 权 全 国 银 行 间 同 业 拆 借 中 心 公 布 ， 2025 年 11 月 20 日 贷 款 市 场 报 价 利 率 （LPR）为：1年期LPR为3.0%，5年期以上LPR为3.5%。 以上LPR在下一次发布LPR之前有 效。 这是LPR自6月份以来连续6个月保持不变。 ...

中国人民银行授权全国银行间同业拆借中心公布，2025年11月20日贷款市场报价利率（LPR）为：1年期LPR为 3.0%，5年期以上LPR为3.5%。以上LPR在下一次发布LPR之前有效。 来源｜央行网站 编辑 ｜瑜见 ...

这是LPR自6月份以来连续6个月保持不变。 贷款市场报价利率（LPR）由各报价行按公开市场操作利率加点形成的方式报价，由全国银行间同业拆借中心计算得出，为 银行贷款提供定价参考。目前，LPR包括1年期和5年期以上两个品种。 来源：中国人民银行 11月20日9时，中国人民银行授权全国银行间同业拆借中心公布， 2025年11月20日贷款市场报价利率（LPR）为：1年期 LPR为3.0%，5年期以上LPR为3.5%。 以上LPR在下一次发布LPR之前有效。 | | | | 中国人民银行 THE PEOPLE'S BANK OF CHINA | | 货币政策司 Monetary Policy Department | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 信息公开 | 新闻发布 | 深体深秘 | 货币政策 | 宏观审慎 | 信贷政策 | 金融市场 | 金融稳定 | 调查绞计 | 银行会计 | 支付体系 | | | 金融科技 | 人民币 | 经理国库 | 国际交往 | 人员招录 | 学术交流 | 征 ...

中国人民银行授权全国银行间同业拆借中心公布，2025年11月20日贷款市场报价利率（LPR）为： 1年期LPR为3.0% ， 5年期以上LPR为 3.5% ， 连续六个月保持不变。 以上LPR在下一次发布LPR之前有效。 来源丨中国人民银行 编辑丨兰银帆 审核丨许晨辉 往期回顾 在风格上 Review of Past Articles - 郑栅洁主任主持召开民营企业座谈会 就"十五五"时期服务业发展听取意见建议 01 02 等你来投！《清华金融评论》12月刊 " 黄金投资逻辑：历史周期与趋势演变 " 征稿启事 小媒求你加·3 标 TSINGHUA PBCSF TSINGHUA Financial Revi 清华五道厂 明年终的未来 《清华金融评论》专注于经济会融 政策解读与建言,设置一个封面专 题以及宏观经济、政策与监管、 银行与保险、资本市场、财富与资 管、金融与科技、论文故事汇、道 口研究、国际九个专业栏目,所有 栏目都期待这样的来稿: 既可以是分析研判式的文稿,也可以是解读评论型的文稿, 既可以建言献策经济金融理论与实践,也可以归纳总结新经 济金融模式与案例。 在形式上 无需复杂的理论与计量模型,无需过 ...

| 贷款市场报价利率(LPR) | | | 2025-11-20 9:00 | | --- | --- | --- | --- | | | 期限 | LPR(%) | | | | 1Y | 3.00 | | | | 5Y | 3.50 | | 5年期以上LPR为3.5%，1年期LPR为3%。 据央行官网，11月贷款市场报价利率（LPR）报价出炉：5年期以上LPR为3.5%，上月为3.5%。1年期LPR为3%，上月为3%。 ...

Core Viewpoint - The article emphasizes the need to establish a scientific and robust monetary policy system along with a comprehensive macro-prudential management framework in China [1] Group 1: Monetary Policy - The central bank aims to enhance the role of policy interest rates and narrow the width of the short-term interest rate corridor [1] - There is a focus on improving the transmission mechanism from central bank policy rates to market benchmark rates and subsequently to various financial market rates [1] Group 2: Interest Rate Mechanism - The article highlights the importance of refining the loan interest rate pricing benchmark to better reflect the actual level of loan market interest rates [1] - It calls for improvements in the quality of the Loan Prime Rate (LPR) quotations [1]

Core Viewpoint - The loan market quotation rate (LPR) remains unchanged in October, with the 1-year LPR at 3.0% and the 5-year LPR at 3.5%, maintaining stability for five consecutive months since the reduction in May 2023 [1][1][1] Group 1: Market Analysis - The current lack of motivation for banks to lower LPR quotes is attributed to the historically low net interest margins [1] - Continuous pressure on banks' interest margins is noted, with projections indicating a decline to 1.42% by the end of Q2 2025, a decrease of 10 basis points from the end of Q4 2022 [1][1] - The marginal effect of interest rate cuts is diminishing, suggesting that lowering rates is not the key factor for stabilizing growth and promoting consumption [1][1] Group 2: Policy Implications - The People's Bank of China is expected to maintain a "precise and effective" regulatory approach, focusing on the implementation and effectiveness of existing monetary policies rather than broad-based easing [1] - There remains operational space for monetary policy adjustments before the end of the year [1]

Core Viewpoint - The People's Bank of China (PBOC) has maintained the Loan Prime Rate (LPR) at 3.0% for 1-year and 3.5% for 5-year loans for five consecutive months, indicating a lack of motivation for banks to lower LPR quotes amid historically low net interest margins [1][2]. Group 1: LPR Stability - The LPR for both 1-year and 5-year terms has remained unchanged for five months, reflecting a stable pricing basis due to the unchanged policy rates [2]. - The recent increase in market interest rates, including the AAA-rated 1-year interbank certificates of deposit, has slightly raised the financing costs for commercial banks, further reducing the incentive to lower LPR quotes [2][3]. Group 2: Macroeconomic Factors - Recent macroeconomic data, including consumption, investment, and industrial production, has shown a decline due to multiple factors such as extreme weather and adjustments in the real estate market [3]. - The acceleration in export growth, influenced by trade transfer effects and changes in the previous year's base, along with earlier fiscal policy support, has contributed to the stability of the LPR [3]. Group 3: Future Policy Outlook - Analysts predict an increased necessity for policies aimed at stabilizing growth and employment, especially in light of external volatility and declining investment and consumption growth [5]. - There is a potential for a new round of interest rate cuts and reserve requirement ratio reductions by the end of the year, which could lead to a decrease in LPR quotes, stimulating internal financing demand [5][6]. - The recent U.S. Federal Reserve rate cuts may weaken the constraints on China's monetary policy, increasing the likelihood of domestic rate adjustments [5][6].