The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 15.6 basis points to 2.017 percent Wednesday.
The seven-day rate lost 17.6 basis points to 2.121 percent, the one-month rate edged up 0.1 basis points to 2.357 percent, and the one-year rate went down 0.1 basis points to 2.752 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
