China 1 and 5-year LPR were set at 3.85% and 4.65% over the weekend. As expected and unchanged.

1 year is 3.85% and 5 year is 4.65%. They’ve been where they are since April of 2020.

The LPR is set in reference to the rate on the PBOC’s medium-term lending facility (MLF), its a lending reference rate set monthly by 18 banks. Expectations are the PBOC will lower the one-year rate in Q2 this year.