China’s overnight Shibor interbank rate decreases Friday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 0.6 basis points to 1.019 percent Friday.

The seven-day rate edged up 0.3 basis points to 1.384 percent, the one-month rate went down 2.8 basis points to 1.594 percent, and the one-year rate dropped 3.6 basis points to 2.043 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.