{
 "id": "cn-realrate",
 "name": "Real policy rate",
 "region": "china",
 "layer": "cycle",
 "unit": "%",
 "cadence": "monthly",
 "state": "context",
 "qualifier": "threshold not yet formed",
 "latest": {
  "period": "2026-08-01",
  "value": 2
 },
 "stale": false,
 "trend": "tightening",
 "publisher": "worldstat.us, from the two series below",
 "series_code": "cn-lpr minus cn-corecpi",
 "licence": "Derived from the component series; see their licences",
 "description": "The policy rate minus core CPI inflation over the past year, read at the end of each month: how hard monetary policy is braking. The threshold is the series' own ten-year mean plus one point, so each region has a baseline that fits its history and nothing is estimated. It triggers only while the policy rate is also higher than six months earlier; above the level with rates on hold or falling it is on Watch.",
 "points": [
  {
   "period": "2025-07-01",
   "value": 2.2
  },
  {
   "period": "2025-08-01",
   "value": 2.1
  },
  {
   "period": "2025-09-01",
   "value": 2
  },
  {
   "period": "2025-10-01",
   "value": 1.8
  },
  {
   "period": "2025-11-01",
   "value": 1.8
  },
  {
   "period": "2025-12-01",
   "value": 1.8
  },
  {
   "period": "2026-01-01",
   "value": 2.2
  },
  {
   "period": "2026-02-01",
   "value": 1.2
  },
  {
   "period": "2026-03-01",
   "value": 1.9
  },
  {
   "period": "2026-04-01",
   "value": 1.8
  },
  {
   "period": "2026-05-01",
   "value": 1.9
  },
  {
   "period": "2026-06-01",
   "value": 2
  },
  {
   "period": "2026-07-01",
   "value": 2.1
  },
  {
   "period": "2026-08-01",
   "value": 2
  }
 ],
 "url": "https://worldstat.us/indicator/cn-realrate"
}