China's overnight Shibor interbank rate declines Tuesday

Source: Xinhua | 2019-03-20

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, declined 9.0 basis points to 2.666 percent Tuesday.
The seven-day Shibor increased 2.0 basis points to 2.729 percent, while the two-week rate was up 13.0 basis points to 2.991 percent.
The one-month Shibor added 2.0 basis points to 2.852 percent, the three-month rate was up 0.9 basis points to 2.823 percent, and the six-month rate edged up 0.5 basis points to 2.865 percent.
The nine-month rate increased 0.2 basis points to 2.960 percent, and the one-year rate was up 0.4 basis points to 3.086 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.