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(Yicai Global) May 10 -- The Shanghai Interbank Offered Rates was mixed today, as the People's Bank of China skipped open market operations for the second day in a row after three days of liquidity injections this week.
The overnight SHIBOR continued to rebound 31.3 basis points to 1.8260 percent, but the one-week rate fell 0.50 bips to 2.5680 percent. The SHIBOR for three-month loans continued to fall, sliding 0.8 bips to 2.8950 percent.
Banking liquidity is at a "relatively high level," the PBOC reiterated in a statement today, explaining today's lack of OMOs. The bank injected a total of CNY50 billion (USD7.4 billion) into the financial system earlier this week.