The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about China Policy Rate

• China cash rate (Policy Rate: Month End: China: 7 Day Reverse Repurchase Rate) was set at 1.40 % pa in Nov 2025, compared with 1.40 % pa in the previous Oct 2025.
• China Policy Rate averaged 2.55 % pa and is updated monthly, available from May 2012 to Nov 2025.
• The data reached an all-time high of 4.40 % pa in Jul 2013 and a record low of 1.40 % pa in Nov 2025.

• In the latest reports, China Short Term Interest Rate: Month End: SHIBOR: 3 Months was reported at 1.58 % pa in Nov 2025.
• Its Long Term Interest Rate (Treasury Bond Yield: Interbank: Spot Yield: 10 year) was reported at 1.86 % pa in Nov 2025.
• China Exchange Rate against USD averaged 7.12 (USD/RMB) in Oct 2025.
• Its Real Effective Exchange Rate was 130.02 in Oct 2025.

Lending Rate in China remained unchanged at 4.35 percent in October from 4.35 percent in September of 2022. This dataset provides - China Prime Lending Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In September 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In September 2025, Russia maintained the highest interest rate at 17 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.3 percent in September 2025. In contrast, Russia maintained a high inflation rate of 8 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

1 Year MLF Rate in China remained unchanged at 2 percent in January. This dataset includes a chart with historical data for China One-Year Medium-Term Lending Facility Rate.

China Lending Rate: Carbon Emission Reduction Facility data was reported at 1.750 % pa in Sep 2024. This stayed constant from the previous number of 1.750 % pa for Jun 2024. China Lending Rate: Carbon Emission Reduction Facility data is updated quarterly, averaging 1.750 % pa from Jun 2022 (Median) to Sep 2024, with 10 observations. The data reached an all-time high of 1.750 % pa in Sep 2024 and a record low of 1.750 % pa in Sep 2024. China Lending Rate: Carbon Emission Reduction Facility data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KA: Structural Monetary Policy Instruments.

China Required Reserve Ratio data was reported at 6.200 % in 02 Dec 2025. This stayed constant from the previous number of 6.200 % for 01 Dec 2025. China Required Reserve Ratio data is updated daily, averaging 9.400 % from Sep 2003 (Median) to 02 Dec 2025, with 8109 observations. The data reached an all-time high of 17.000 % in 29 Feb 2016 and a record low of 6.200 % in 02 Dec 2025. China Required Reserve Ratio data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MA: Required Reserve Ratio . In view of the fact that the cut of the RRR effective from 15 Oct 2018 was not for all depository institutions, it could not be updated accordingly. Afterwards, if the official has disclosed the exact data of the ratio, it will be updated accordingly. Release date: 07 Oct 2018 In view of the fact that the cut of the RRR effective from 5 July 2018 was not for all depository institutions, it could not be updated accordingly. Afterwards, if the official has disclosed the exact data of the ratio, it will be updated accordingly. Release date: 24 June 2018 In view of the fact that the cut of the RRR effective from 25 April 2018 was not for all depository institutions, it could not be updated accordingly. Afterwards, if the official has disclosed the exact data of the ratio, it will be updated accordingly. Release date: 17 April 2018

The benchmark interest rate in Hong Kong was last recorded at 4.25 percent. This dataset provides the latest reported value for - Hong Kong Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Loan Prime Rate 5Y in China remained unchanged at 3.50 percent in November. This dataset includes a chart with historical data for China Loan Prime Rate 5Y.

Lower Limit of First Home Mortgage Rate: above LPR: Beijing data was reported at -0.450 % Point in 02 Dec 2025. This stayed constant from the previous number of -0.450 % Point for 01 Dec 2025. Lower Limit of First Home Mortgage Rate: above LPR: Beijing data is updated daily, averaging 0.550 % Point from Oct 2019 (Median) to 02 Dec 2025, with 2248 observations. The data reached an all-time high of 0.550 % Point in 25 Jun 2024 and a record low of -0.450 % Point in 02 Dec 2025. Lower Limit of First Home Mortgage Rate: above LPR: Beijing data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MA: Lower Limit of First Home Mortgage Rate: Prefecture Level City. After adjustment on December 15, 2023: the lower limits of the first and second sets of interest rate policies in the six districts of the city are respectively no less than the market quoted interest rate for loans of the corresponding period plus 10 basis points, and no less than the market quoted interest rate for loans of the corresponding period plus 60 basis points; The lower limits of the first and second sets of interest rate policies in the six non-urban districts are not lower than the market quoted interest rate for loans of the corresponding period, and not lower than the market quoted interest rate for loans of the corresponding period plus 55 basis points.

Reverse Repo Rate in China remained unchanged at 1.40 percent in October. This dataset provides - China Reverse Repo Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Each bank publishes information on current accounts, savings deposits, fixed deposits, fixed-term savings deposits, and various interest rates such as mortgage index rates and benchmark rates. (Data for that day)

Key information about China Real Effective Exchange Rate

• China Real Effective Exchange Rate (REER: 2005=100: Month Avg: China) was 130.0 in Oct 2025, compared with the number of 129.1 in the previous month.
• China Real Effective Exchange Rate data is updated monthly and averaged 157.3 from Jan 1994 to Oct 2025.
• The data reached an all-time high of 157.3 in Mar 2022 and a record low of 78.1 in Jan 1994.

• In the latest reports, China Short Term Interest Rate: Month End: SHIBOR: 3 Months was reported at 1.6 % pa in Nov 2025.
• The cash rate (Policy Rate: Month End: China: 7 Day Reverse Repurchase Rate) was set at 1.4 % pa in Nov 2025.
• China Exchange Rate against USD averaged 7.1 (USD/RMB) in Oct 2025.

Key information about Hong Kong SAR (China) Real Effective Exchange Rate

• Hong Kong SAR (China) Real Effective Exchange Rate (REER: 2005=100: Month Avg: Hong Kong SAR (China)) was 107.1 in Oct 2025, compared with the number of 106.1 in the previous month.
• Hong Kong SAR (China) Real Effective Exchange Rate data is updated monthly and averaged 145.0 from Jan 1994 to Oct 2025.
• The data reached an all-time high of 145.0 in Aug 1998 and a record low of 81.0 in Aug 2011.

• In the latest reports, Hong Kong SAR (China) Short Term Interest Rate: Month End: HIBOR Fixing: 3 Months was reported at 3.2 % pa in Nov 2025.
• The cash rate (Policy Rate: Month End: Discount Window Base Rate) was set at 4.3 % pa in Oct 2025.
• Hong Kong SAR (China) Exchange Rate against USD averaged 7.8 (USD/HKD) in Oct 2025.

The industry closely follows global economic performance since demand for loans is heavily influenced by business and consumer confidence, as well as the level of activity that requires financing. The strong global economic performance, fueled by the United States and emerging markets such as China and Southeast Asia, is expected to improve from increased aggregate private investment, which has supported loan origination. However, elevated interest rates during the period limited loan demand, although higher interest rates enabled global commercial banks to generate greater interest income on loans originated. Overall, global commercial banks' revenue has grown at a CAGR of 4.3% to $3,862.4 billion over the past five years, including an expected decrease of 0.5% in 2025 alone. Also, industry profit has grown substantially during the period and will account for 45.8% in the current year. Strong performance in the United States and China for most of the last five years has bolstered economic activity. The growth in interest rates throughout the period has limited loan originations, although businesses have maintained demand for loans to expand and improve operational efficiencies. The high interest rate environment has boosted industry profit, supporting efforts by major players to consolidate operations. The interest rate environment has reversed in the latter part of the period as the Fed and other central banks have slashed rates, which has increased demand for loans such as business loans and mortgages. With rates being cut, industry profit growth is anticipated to slow. Industry revenue is expected to grow as the global economy continues to expand and economic volatility is anticipated to fade. In addition, interest rates are expected to be cut further at the onset of the outlook period if inflation continues to ease. Strong economic performance in emerging markets is anticipated to foment growth of commercial banking activity in various countries and aid faster revenue growth over the next five years. But geopolitical tensions are expected to pose a threat to growth. Global commercial banks' revenue is expected to climb at a CAGR of 1.7% to $4,202.0 billion over the five years to 2030.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for United States (IRLTLT01USM156N) from Apr 1953 to Oct 2025 about long-term, 10-year, bonds, yield, government, interest rate, interest, rate, and USA.

Interest Rate Swaps Market Outlook

According to our latest research, the global interest rate swaps market size reached USD 12.4 trillion in 2024, with a robust compound annual growth rate (CAGR) of 6.8% projected through the forecast period. By 2033, the market is forecasted to attain a value of USD 24.1 trillion. This remarkable growth is primarily driven by increased volatility in global interest rates, a heightened need for risk management tools among financial institutions, and the rising complexity of corporate financial strategies.

A significant growth factor for the interest rate swaps market is the ongoing volatility in global interest rates, which has prompted both financial institutions and corporations to seek sophisticated hedging instruments. Central banks around the world have adopted divergent monetary policies in response to inflationary pressures and economic uncertainties, which has led to increased fluctuations in benchmark rates. As a result, organizations are turning to interest rate swaps to manage their exposure, lock in borrowing costs, and stabilize cash flows. The growing demand for risk mitigation tools is further amplified by the unpredictable macroeconomic environment, making interest rate swaps an essential component of modern financial risk management.

Another pivotal driver is the evolution of regulatory frameworks and financial market infrastructure, which has enhanced transparency and accessibility in the interest rate swaps market. The implementation of regulations such as the Dodd-Frank Act in the United States and EMIR in Europe has encouraged the migration of swaps trading to centralized clearinghouses and electronic trading platforms. This shift has not only reduced counterparty risk but also improved price discovery and operational efficiency. The increasing adoption of technology-driven trading systems, alongside the digitization of financial services, is making interest rate swaps more accessible to a broader array of market participants, including mid-sized corporates and institutional investors.

Furthermore, the expansion of the interest rate swaps market is supported by the globalization of financial markets and the diversification of end-users. Multinational corporations, government entities, and even non-banking financial institutions are leveraging swaps to optimize their capital structures and manage cross-border exposures. The proliferation of new swap products, such as basis swaps and forward swaps, has enabled market participants to implement more complex and tailored risk management strategies. As financial markets become increasingly interconnected, the demand for flexible and customizable interest rate derivatives is expected to continue its upward trajectory.

Regionally, North America and Europe remain dominant due to their mature financial markets and robust regulatory frameworks. However, the Asia Pacific region is emerging as a significant growth engine, propelled by rapid financial sector development, increased cross-border capital flows, and the liberalization of interest rate regimes in key economies like China and India. Latin America and the Middle East & Africa are also witnessing steady growth, albeit from a smaller base, as financial markets in these regions continue to evolve and integrate with global capital markets.

Type Analysis

The interest rate swaps market can be segmented by type into Over-the-Counter (OTC) and Exchange-Traded swaps. OTC swaps have historically dominated the market, accounting for the majority of global notional outstanding due to their flexibility and customization options. Financial institutions and large corporates prefer OTC swaps as they allow for bespoke contract terms tailored to specific hedging requirements. The depth and liquidity of the OTC market have enabled participants to execute large and complex transactions efficiently, making it an indispensable segment for risk management and speculative strategies.

However, the landscape is gradually shifting with the rise of exchange-traded interest rate swaps. Regulatory reforms, particularly in the aftermath of the global financial crisis, have encouraged the migration of standardized swap contracts to regulated exchanges and central clearinghouses. Exchange-traded swaps offer enhanced transparency, reduced counterparty risk, and improved operational efficiency, which are particularly attr

The yield on China 10Y Bond Yield held steady at 1.83% on December 2, 2025. Over the past month, the yield has edged up by 0.07 points, though it remains 0.16 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. China 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on December of 2025.

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Microfinance Market Size 2025-2029

The microfinance market size is forecast to increase by USD 206.8 billion at a CAGR of 14.1% between 2024 and 2029.

The market is experiencing significant growth, driven by the emergence of social media and increasing digital connectivity. This trend is particularly prominent in the Asia Pacific region, where the market is expanding rapidly. However, the industry faces challenges related to inadequate risk management. The proliferation of digital platforms is enabling financial inclusion, reaching populations previously underserved by traditional financial institutions. In the Asia Pacific region, for instance, over 200 million adults remain unbanked, presenting a vast opportunity for microfinance institutions. Yet, the sector's growth is not without challenges. Effective risk management remains a significant hurdle, as microfinance institutions grapple with assessing and mitigating risk in an environment characterized by limited financial data and high operational complexity. Companies seeking to capitalize on market opportunities and navigate challenges effectively must invest in advanced risk management solutions, leveraging technology and data analytics to mitigate risk and expand their reach. Additionally, strategic partnerships and collaborations can help microfinance institutions overcome operational complexities and expand their offerings, catering to the diverse financial needs of their clientele.

What will be the Size of the Microfinance Market during the forecast period?

Request Free SampleThe market encompasses loan facilities and financial services catering to the low-income segment, primarily focusing on cottage industries and household income generation. Microfinance credit plays a crucial role in poverty reduction by providing access to financial aid for individuals and microenterprises, often bypassing traditional lending practices. Technological infrastructure, including digital platforms and mobile banking, significantly contributes to the market's growth, enabling financial inclusion and economic empowerment. Peer-to-peer lending and technological integration have reduced operating costs, allowing financial institutions to offer microcredit facilities with competitive interest rates. Traditional banking services are increasingly adopting technology to streamline loan processing, savings accounts, money transfers, leasing services, and financial return tracking. The financial health of microfinance institutions relies on effective credit scoring and maintaining financial return, attracting private sector banks and fintech companies to invest in this sector. Overall, the market continues to expand, driven by the need for affordable financial services and the increasing adoption of technology.

How is this Microfinance Industry segmented?

The microfinance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userSmall enterprisesSolo entrepreneursMicro enterprisesUsageAgricultureManufacturing/ProductionTrade and servicesHouseholdOthersTypeBanksNon-banksService TypeGroup and individual micro-creditInsuranceSavings and checking accountsLeasingMicro-investment fundsGeographyAPACBangladeshChinaIndiaIndonesiaVietnamSouth AmericaArgentinaBrazilChileColombiaNorth AmericaUSEuropeMiddle East and Africa

By End-user Insights

The small enterprises segment is estimated to witness significant growth during the forecast period.The market plays a significant role in catering to the financial needs of small businesses, particularly those without access to traditional financial institutions. Fueled by an increasing entrepreneurial spirit, expanding public awareness of microfinance services, and favorable regulatory environments, this market has experienced substantial growth. Microfinance institutions (MFIs) offer loan facilities to various sectors, including rural agriculture, cottage industries, and micro and small enterprises. Digital integration through mobile banking, point-of-sale systems, and peer-to-peer lending platforms has broadened reach and improved accessibility, especially in remote areas. MFIs provide financial services such as savings accounts, money transfers, leasing services, and loan processing to promote financial health and social mobility among unbanked populations. Despite challenges like high interest rates, short repayment periods, and operational costs, MFIs remain crucial in poverty reduction and financial inclusion.

Get a glance at the market report of share of various segments Request Free Sample

The Small enterprises segment was valued at USD 59.80 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 48% to the growth of the global market

Interbank Rate in China remained unchanged at 1.58 percent on Tuesday December 2. This dataset provides - China Interbank Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.