China's overnight Shibor interbank rate increases Thursday
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 6.2 basis points to 1.463 percent Thursday.
The seven-day rate dropped 28.3 basis points to 1.497 percent, the one-month rate edged down 0.1 basis points to 1.5 percent, and the one-year rate edged down 0.2 basis points to 1.972 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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