China's overnight Shibor interbank rate decreases Wednesday

BEIJING, Oct. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1.8 basis points to 1.116 percent Wednesday.

The seven-day rate rose 1.7 basis points to 1.547 percent, the one-month rate edged down 0.1 basis points to 1.609 percent, and the one-year rate edged up 0.1 basis points to 2.005 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.