The People's Bank of China decides to lower re-lending and re-discount rates

People's Bank of China
The People's Bank of China has decided to lower the re-lending and re-discount rates by 0.25 percentage points starting from January 19, 2026. After the reduction, the 3-month, 6-month and 1-year re-loan interest rates to support agriculture and small businesses are 0.95%, 1.15% and 1.25% respectively, the rediscount interest rate is 1.5%, the mortgage supplementary loan interest rate is 1.75%, and the special structural monetary policy tool interest rate is 1.25%.
In order to better exert the incentive effect of structural monetary policy tools and guide financial institutions to increase support for major strategies, key areas and weak links, the People's Bank of China decided to lower the re-lending and re-discount rates by 0.25 percentage points starting from January 19, 2026. After the reduction, the 3-month, 6-month and 1-year re-loan interest rates to support agriculture and small businesses are 0.95%, 1.15% and 1.25% respectively, the rediscount interest rate is 1.5%, the mortgage supplementary loan interest rate is 1.75%, and the special structural monetary policy tool interest rate is 1.25%.

Source: People's Bank of China

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