(Yicai Global) Nov. 22 -- The Shanghai Interbank Offered Rates moved in both directions today, with short-term lending rates bouncing back following two days of decline after the nation's central bank skipped open market operations for the third straight day.

The overnight SHIBOR was up 9.9 basis points at 1.9480 percent, while the one-week rate gained 11 bips to 2.5360 percent. The two-week rate also rose 1.1 bips to 2.5000 percent.

Rates for one-month loans slid 0.2 bip to 2.7925, while the rate for one-year lending dropped 0.6 bip to 3.1210 percent.

"Liquidity in the monetary system is already reasonably ample," the central bank said today, reiterating the same explanation it gave for skipping OMOs on Nov. 20 and yesterday.

The central bank conducted seven-day reverse repos on Monday and Tuesday, injecting a total CNY300 billion (USD42.7 billion) cash into its monetary system after 15 consecutive days of inaction. The bank also cut the interest rate for seven-day reverse repos by 5 basis points to 2.5 percent, the first such cut in more than four years.