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China's overnight Shibor interbank rate increases Wednesday

Xinhua News,BEIJING
2020-03-11 11:27

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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 10.4 basis points to 2.118 percent Wednesday.

The seven-day rate raised 5.9 basis points to 2.3 percent. The one-month rate went up 1.3 basis points to 2.145 percent, and the one-year rate dropped 2.9 basis points to 2.557 percent.

Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank RMB lending rates offered by the price quotation group of 18 commercial banks with a high credit rating, with the four highest and four lowest quotations excluded.
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