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China Holds Steady on Rates Amid Slowing Retail Growth

2/24/2026

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Summary

Story summary

On February 24, 2026, the People's Bank of China (PBOC) kept the one-year loan prime rate at 3% and the five-year rate at 3.5%, the ninth consecutive month without changes.
Retail sales growth slowed to 0.9% in December, a three-year low, prompting authorities to promote service consumption.
The yuan has appreciated, which could affect exports amid United States tariffs.
The PBOC said currency stability objectives could change in 2026.

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Story summary

On February 24, 2026, the People's Bank of China (PBOC) kept the one-year loan prime rate at 3% and the five-year rate at 3.5%, the ninth consecutive month without changes.
Retail sales growth slowed to 0.9% in December, a three-year low, prompting authorities to promote service consumption.
The yuan has appreciated, which could affect exports amid United States tariffs.
The PBOC said currency stability objectives could change in 2026.