Interbank Rate Slows

The rise in interbank rates paused after climbing for 14 consecutive weeks and hitting multi-month highs. 
The rate dropped slightly to 21.13% from 21.31% last Saturday, which was the highest in 18 months. 
Interbank rates are interest charged on short-term lending between banks. Banks borrow money from each other to ensure that they have enough liquidity for immediate needs, or lend money when they have excess cash on hand.
Though insignificant, the latest decline in interbank rates indicates the regulator’s determination to curb it following serious concern voiced by asset markets, namely investors in the share market.