Benchmark interest rate and LPR There are two different interest rates , The benchmark lending rate of the people's Bank of China is an interest rate with guiding significance formulated by the people's Bank of China ;LPR Is the quoted interest rate of loans in the inter-bank market ,LPR Interest rate is a market-oriented index . It is the first step of interest rate marketization in China , First, we should marketize the loan interest rate , Then carry out the marketization of deposit interest rate .

     One 、LPR Introduce

LPR Publish website

http://www.shibor.org/shibor/web/html/index.html

         The interest rate quoted in the loan market （LPR） By each quotation bank at the open market operating interest rate （ It mainly refers to the medium-term loan facility interest rate ） Add points to form a quotation , Calculated by the national interbank lending center , Provide pricing reference for bank loans . at present ,LPR Include 1 Years and 5 More than two years old varieties .

      LPR The quotation line currently includes 18 Home bank , monthly 20 Japan （ Postpone in case of holidays ）9 When the former , Each quotation line is marked with 0.05 Percentage points for steps , Submit the quotation to the national interbank lending center ,
       The national inter-bank lending center is based on the arithmetic average after removing the highest and lowest quotation , And to 0.05% The integral times of the nearest round LPR, On that day 9 when 15 Sub publication , The public can check it at the national interbank lending center and the website of the people's Bank of China .
     

  Two 、 Introduction to loan benchmark interest rate

        The benchmark interest rate for RMB loans of financial institutions is set by the central bank , Guiding interest rate for loans to commercial banks , Not the actual loan interest rate . Promulgated by the people's Bank of China , It hasn't changed for a long time , Last updated on ：2015 year 10 month 24 Japan .

Website of the people's Bank of China's benchmark loan interest rate

http://www.pbc.gov.cn/zhengcehuobisi/125207/125213/125440/125838/125888/2968985/index.html

     3、 ... and 、 distinguish between

	LPR	Benchmark interest rate
Interest rate model	Market interest rate	Policy guiding interest rate
Release time	monthly 20 Japan 9 when 15 Sub publication （ Postpone in case of holidays ）	Issued by the people's Bank of China
Publish website	National interbank lending center	National interbank lending center The People's Bank of China
Floating mode	Floating scale 、 Floating point number	Floating point number
Term grade	1 Years and 5 More than years	Within a year （ Including a year ）、 One to five years （ Including five years ）、 More than five years and three grades

         summary ： Talk about your own views , This is the essence. . The benchmark interest rate is a tool for the people's Bank of China to exert its interest rate policy to regulate the market , To regulate bank behavior , With mandatory and obvious policy nature , The loan interest rate of commercial banks cannot be arbitrarily too high or too low .LPR Interest rate is completely a market-oriented behavior of interest rate , If the capital cost of commercial banks is low , In order to expand the scale of loans , The interest rate can be reduced according to the principle of marketization . I personally believe that under the national conditions of socialism with Chinese characteristics, there will be no complete marketization of interest rate .