China’s overnight Shibor interbank rate decreases Thursday
BEIJING, April 14– The overnight Shanghai Interbank Offered Rate, which measures the borrowing cost of China’s interbank market, decreased 11.3 basis points to 1.552 percent Thursday. The seven-day rate dropped 6.1 basis points to 1.905 percent, the one-month rate went down 0.9 basis points to 2.267 percent, and the one-year rate edged down 0.3 basis points to…
BEIJING, April 14 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 11.3 basis points to 1.552 percent Thursday.
The seven-day rate dropped 6.1 basis points to 1.905 percent, the one-month rate went down 0.9 basis points to 2.267 percent, and the one-year rate edged down 0.3 basis points to 2.572 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. Enditem