China's overnight Shibor interbank rate increases Wednesday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 48.1 basis points to 2.278 percent Wednesday.

The seven-day Shibor rose 18.5 basis points to 2.654 percent, while the two-week rate was up 11.6 basis points to 2.566 percent.

The one-month Shibor increased 0.9 basis points to 2.655 percent, the three-month rate was up 0.4 basis points to 2.755 percent, and the six-month rate edged up 0.9 basis points to stand at 2.833 percent.

The nine-month rate went up 0.6 basis points to 2.914 percent, and the one-year rate was up 0.6 basis points to 3.053 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.