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China's overnight Shibor interbank rate rises Monday
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 3.3 basis points to 2.629 percent Monday. The seven-day Shibor rose 1.2 basis points to 2.656 percent. The one-month rate edged up 1.7 basis points to 2.588 percent, while the one-year rate declined 0.3 basis points to 3.0755 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 ... (full story)