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China's overnight Shibor interbank rate decreases Monday

Xinhua News,BEIJING
2020-01-06 11:13

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BEIJING, Jan. 6 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 15.9 basis points to 1.003 percent Monday.

The seven-day rate dropped 13 basis points to 2.219 percent, The one-month rate went down 9.5 basis points to 2.747 percent, and the one-year rate dropped 2.1 basis points to 3.05 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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