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China's overnight Shibor interbank rate decreases Wednesday

2019-10-23 11:35

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BEIJING, Oct. 23 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 14.5 basis points to 2.654 percent Wednesday.

The seven-day rate was down 9.6 basis points to 2.693 percent, The one-month rate went up 1.1 basis points to 2.761 percent, and the one-year rate edged up 0.4 basis points to 3.061 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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