Due to the impact of bank's net interest margin, the LPR has remained unchanged for three consecutive months.

On August 20, the latest loan market quotation interest rates were released. The People's Bank of China authorized the National Interbank Funding Center to announce that the 1-year LPR is 3.0% and the LPR for 5 years and above is 3.5%. The LPR for these two terms has remained the same for three consecutive months. The unchanged LPR meets market expectations. Wang Qing, Chief Macro Analyst at East Money Credit, stated that the stability of the 7-day reverse repurchase operation interest rate for policy rates implies that the pricing basis for the LPR for that month has not changed. Due to factors such as market expectations influenced by anti-inner loop movements, recent market rates have increased. Against the backdrop of commercial banks' net interest margins at historic lows, quoting banks lack the motivation to actively lower LPR pricing points.