China's overnight Shibor interbank rate decreases Thursday
Source: Xinhua | 2022-05-13
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1.6 basis points to 1.309 percent Thursday.
The seven-day rate rose 0.6 basis points to 1.714 percent, the one-month rate went down 0.7 basis points to 2.064 percent, and the one-year rate dropped 1.1 basis points to 2.42 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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