BUSINESS China's overnight Shibor interbank rate decreases Thursday


China's overnight Shibor interbank rate decreases Thursday


13:37, January 19, 2023

BEIJING, Jan. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 27.7 basis points to 1.656 percent Thursday.

The seven-day rate rose 14.6 basis points to 2.281 percent, the one-month rate went up 0.6 basis points to 2.291 percent, and the one-year rate rose 0.5 basis points to 2.584 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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