China's overnight Shibor interbank rate decreases Wednesday

Source: Xinhua | 2020-02-05

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 22.2 basis points to 2.051 percent Wednesday.

The seven-day rate dropped 7.3 basis points to 2.343 percent. The one-month rate went down 6.4 basis points to 2.696 percent, and the one-year rate dropped 2.3 basis points to 2.936 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.