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China's overnight Shibor interbank rate decreases Thursday

Xinhua News,BEIJING
2020-07-02 15:51

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BEIJING, July 2 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 22.2 basis points to 1.745 percent Thursday.

The seven-day rate dropped 8.9 basis points to 2.006 percent, the one-month rate went down 3.3 basis points to 2.038 percent, and the one-year rate rose 0.7 basis points to 2.368 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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