In January 2025, the monthly weighted average interest rate for interbank lending in the RMB market was 1.86%.

　　In January 2025, the interbank RMB market recorded a total transaction volume of 140.91 trillion yuan through interbank lending, outright bond trading, and repo transactions, with an average daily volume of 7.42 trillion yuan. The average daily transaction volume decreased by 22.9% year-on-year. Specifically, the average daily volume of interbank lending fell by 45.7% year-on-year, outright bond trading decreased by 10.1% year-on-year, and pledged repo transactions declined by 24% year-on-year.

　　The weighted average interest rate for interbank loans in January 2025 stood at 1.86%, up 0.29 percentage points from the previous month and 0.03 percentage points year-on-year. The weighted average interest rate for pledged repurchase agreements was 2.16%, rising 0.51 percentage points month-on-month and 0.26 percentage points year-on-year.