China's overnight Shibor interbank rate decreases Monday

BEIJING -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 6.9 basis points to 2.128 percent Monday.

The seven-day rate edged down 0.2 basis points to 2.201 percent, the one-month rate went up 2.2 basis points to 2.057 percent, and the one-year rate rose 2.2 basis points to 2.455 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.