BEIJING, May 16 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 25.24 basis points to 2.281 percent Thursday.

The seven-day Shibor decreased 3.4 basis points to 2.607 percent, while the two-week rate was down 2.2 basis points to 2.440 percent.

The one-month Shibor went down 0.5 basis points to 2.708 percent, with the three-month rate up 0.3 basis points to 2.896 percent, and the six-month rate down 0.1 basis points to 2.947 percent.

The nine-month rate dropped 0.1 basis points to 3.051 percent, and the one-year rate rose 0.4 basis points to 3.157 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

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