The People's Bank of China announced a 0.25 percentage point cut in relending and rediscounting interest rates to strengthen the incentive role of structural monetary policy tools and encourage financial institutions to increase support for major strategies, key areas and weak links. From 19 January 2026, the 3-month, 6-month and 1-year relending rates for agriculture and small enterprises will be 0.95%, 1.15% and 1.25% respectively. The rediscount rate will be 1.5%, the mortgage supplementary loan interest rate will be 1.75%, and the interest rate for special structural monetary policy tools will be 1.25%.
Central Bank of the Republic of China 2026-01-15
People's Bank of China cuts relending and rediscounting rates by 25 basis points from 19 January 2026
The People's Bank of China announced a 0.25 percentage point reduction in relending and rediscounting interest rates to enhance structural monetary policy tools, effective 19 January 2026. New rates include 3-month, 6-month, and 1-year relending rates for agriculture and small enterprises at 0.95%, 1.15%, and 1.25% respectively, with a rediscount rate of 1.5%.