PBoC: The weighted average monthly interbank lending rate for the RMB in the banking sector in May was 1.55%.

According to the data from the central bank, in May, the weighted average interest rate for interbank RMB market lending was 1.55%, and for pledged bond repurchase it was 1.56%. In May, the total turnover in the interbank RMB market through lending, spot bonds, and repurchase transactions was 16.72 trillion yuan, with a daily average turnover of 0.88 trillion yuan, a 14.9% increase compared to the same period last year. Among them, the daily average turnover of interbank lending decreased by 8.6% compared to last year, while the daily average turnover of spot bonds and repurchase transactions increased by 5% and 19.1% respectively. The weighted average interest rate for interbank lending in May was 1.55%, which was 0.18 and 0.3 percentage points lower than the previous month and the same period last year. The weighted average interest rate for pledged bond repurchase was 1.56%, which was 0.16 and 0.26 percentage points lower than the previous month and the same period last year.