Metals News
China's Overnight Interbank Rate Plunges Friday
industry news
03:59PM
Jun 21,2013
Source:SMM

Updated: 2013-06-21 (Xinhua)- China's overnight interbank offered rate took a dive on Friday after hitting a record-high 13.44 percent on Thursday, new official data show.

The Shanghai Interbank Offered Rate overnight rate, a basic gauge of interbank borrowing costs, plunged 495.2 base points to 8.49 percent on Friday, according to data from the National Interbank Funding Center.

The overnight rate had witnessed a rising trend since the beginning of this month on tight liquidity before hitting record-high 13.44 percent on Thursday.

The State Council, China's cabinet, said at a meeting on Wednesday that the government will maintain a prudent monetary policy with a reasonable scale of monetary aggregates.
 

China's overnight interbank offered rate on June 21
For queries, please contact Frank LIU at liuxiaolei@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related Price

No Data