◂ Event Timeline

Feb 24, 2026MACROChina

China leaves benchmark lending rates unchanged as Beijing signals tolerance for stronger yuan

China's central bank kept its 1-year and 5-year loan prime rates unchanged at 3% and 3.5% for a tenth straight month. The decision came as authorities balanced a slowing economy against currency stability.

WHY IT MATTERS

Steady rates signal limited new stimulus for Chinese demand, which is neutral to slightly bearish for feed commodities.

AFFECTSChinese Yuan (CNY per USD)◆

SOURCE
cnbc.comAnniek BaoFeb 24, 2026

Price reaction & history

Chinese Yuan (CNY per USD)◆neutralSO FAR1d -0.3%5d -0.3%20d -0.3%

After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.

Nov 15, 2022China keeps key lending rate unchanged as policymakers balance yuan, economic risks | Financial Post+1.3%
Jan 22, 2024China’s yuan holds steady on unchanged lending rates; offshore yuan liquidity tight - Markets - Business Recorder-0.2%
Nov 22, 2021USD/CNY Flat As PBoC Leaves LPR Unchanged, Hints at Coming Stimulus+0.0%
Apr 29, 2026China’s Yuan Holds Steady As Markets Wait On Fed Signals - Finimize-0.1%
Nov 7, 2018China's reserves fall, suggesting Beijing propping up yuan | AP News+0.5%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Linked price moves

Chinese Yuan (CNY per USD)-0.4%1 period to Feb 26, 2026-4.0σ
The PBOC held loan prime rates and signaled tolerance for a stronger yuan on 2026-02-24, which supports continued CNY appreciation, so USD/CNY fell.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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