BEIJING, May 8 (Xinhua) -- China's overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, continued to drop Wednesday as the central bank injected funds into the market.
The overnight Shibor decreased 25 basis points to 1.141 percent.
The seven-day Shibor decreased 6.3 basis points to 2.286 percent, while the two-week rate was down 3 basis points to 2.372 percent.
The one-month Shibor decreased 3.2 basis points to 2.741 percent, with the three-month rate down 1.2 basis points to 2.91 percent, and the six-month rate down 0.4 basis points to stand at 2.947 percent.
The nine-month rate remained unchanged at 3.05 percent, and the one-year rate was down 0.3 basis points to 3.151 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.
