The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 0.6 basis points to 1.588 percent Wednesday.
The seven-day rate rose 0.7 basis points to 1.797 percent, the one-month rate went down 0.6 basis points to 2.298 percent, and the one-year rate edged down 0.3 basis points to 2.477 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.—APP
