# People’s Bank of China Holds Lending Rates Steady and Moves to Curb Yuan’s Rapid Rise - Beijing Post

> The People's Bank of China kept the one-year Loan Prime Rate at 3% and the five-year rate at 3.5%. It also set a weaker-than-expected daily yuan fixing to slow the currency's rise to a three-year high.

- Date: 2026-11-01 · published 2026-11-01T12:08:47.488Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/8889-people-s-bank-of-china-holds-lending-rates-steady-and-moves-to-curb-yuan-s
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker-than-expected yuan fixing signals Beijing is leaning against appreciation, which raises the yuan cost of dollar-priced feed imports and can temper Chinese buying of US grains and meal. The effect on feed prices is modest, but a firmer dollar against the yuan would weigh on US export competitiveness.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-02-20 | [Breaking: The People's Bank of China cut interest rates: AUD and Yuan sliding — Octa](https://feedsoft.ai/events/54798-breaking-the-people-s-bank-of-china-cut-interest-rates-aud-and-yuan-sliding-octa.md) | +0.3% | +0.7% |
| USDCNY | 2023-04-19 | [China’s yuan softens ahead of key lending rate moves - Markets - Business Recorder](https://feedsoft.ai/events/36607-china-s-yuan-softens-ahead-of-key-lending-rate-moves-markets-business-recorder.md) | +0.8% | +1.4% |
| USDCNY | 2020-02-20 | [Yuan falls to over 2-month low as China cuts lending benchmark \| Financial Post](https://feedsoft.ai/events/54795-yuan-falls-to-over-2-month-low-as-china-cuts-lending-benchmark-financial-post.md) | +0.3% | +0.7% |
| USDCNY | 2022-05-05 | [US Fed rate hike: how can China stem capital outflow and prop up the yuan? \| South China Morning Post](https://feedsoft.ai/events/8315-us-fed-rate-hike-how-can-china-stem-capital-outflow-and-prop-up-the-yuan-south.md) | +1.7% | +0.8% |
| USDCNY | 2022-10-25 | [FX Daily: People’s Bank of China loosens its hold on the renminbi \| articles \| ING THINK](https://feedsoft.ai/events/39356-fx-daily-people-s-bank-of-china-loosens-its-hold-on-the-renminbi-articles-ing.md) | +0.6% | -1.7% |

## Sources

- beijingpost.com: https://beijingpost.com/people-s-bank-of-china-holds-lending-rates-steady-and-moves-to-curb-yuan-s-rapid-rise

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.