China's overnight Shibor interbank rate drops Monday

Source: Xinhua | 2019-09-03

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 2.2 basis points to 2.55 percent on Monday.
The seven-day Shibor dropped 1.2 basis points to 2.653 percent. The one-month rate remained unchanged at 2.661 percent , while the one-year rate fell 0.1 basis points to 3.05 percent.
Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank yuan 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.