Central Banking

China to launch SHIBOR to develop benchmark rate

China will launch the Shanghai Interbank Offer Rate (SHIBOR) from Thursday 4 January, in a move to develop a benchmark rate for the interbank market, the People's Bank of China said.

"The launch of SHIBOR will further push forward market-oriented interest rate reform and develop benchmark interest rate system for China's money market, improve pricing capabilities of financial institutions and guide pricing of money market instruments," the People's Bank of China (PBoC) said in a statement on i

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