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China's overnight Shibor interbank rate decreases Wednesday

Xinhua News,BEIJING
2020-03-18 11:45

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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 12.0 basis points to 0.963 percent Wednesday.

The seven-day rate dropped 14.5 basis points to 1.751 percent, the one-month rate went down 3.1 basis points to 2.032 percent, and the one-year rate fell 1.8 basis points to 2.464 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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