In March 2025, the People’s Bank of China overhauled its Medium-Term Lending Facility (MLF), shifting to a fixed-quantity, multiple-price bidding model. Under the new system, banks compete for one-year loans at varying interest rates, with pricing determined by multiple winning bids. According to the central bank, the change is intended to maintain ample liquidity in the banking system and better accommodate the diverse funding needs of participating institutions. The move also signals a decisive shift away from using the MLF rate as a policy benchmark, further reducing its role in guiding monetary policy. source: People's Bank of China
1 Year MLF Rate in China averaged 3.00 percent from 2016 until 2025, reaching an all time high of 3.30 percent in April of 2018 and a record low of 2.00 percent in September of 2024. This page includes a chart with historical data for China One-Year Medium-Term Lending Facility Rate. China One-Year Medium-Term Lending Facility Rate - values, historical data and charts - was last updated on March of 2026.