China's overnight Shibor interbank rate decreases Monday

Source: Xinhua | 2019-05-07

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 14.8 basis points to 1.642 percent Monday.
The seven-day Shibor decreased 0.05 basis points to 2.5285 percent, while the two-week rate was down 5.9 basis points to 2.537 percent.
The one-month Shibor decreased 2.2 basis points to 2.811 percent, with the three-month rate down 0.1 basis points to 2.934 percent, and the six-month rate down 0.6 basis points to stand at 2.956 percent.
The nine-month rate stayed at 3.051 percent, and the one-year rate was down 0.3 basis point to 3.156 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.