(Yicai Global) June 6 -- The Shanghai Interbank Offered Rates were mostly up despite China's central bank's net injection of cash into its monetary system via open market operations today.

 The overnight SHIBOR continued to move down 7.20 basis points to 1.5210 percent, while the one-week rate gained 10.00 points to 2.5720 percent. The SHIBOR for three-month loans was up 0.80 bips to 2.9240 percent.

 The one-year SHIBOR was 3.2120 percent, 0.30 points up from yesterday.
 

The People's Bank of China conducted CNY10 billion in seven-day reverse repurchases against CNY30 billion in obligations maturing from an earlier operation today.
 

It also pumped CNY500 billion worth of one-year, medium-term lending facility loans into the system today, against a total of CNY463 billion maturing MLFs.

 The two operations effectively decanted CNY17 billion in liquidity into the system.

The bank pulled CNY300 billion in cash from its monetary system via open market operations earlier this week.

Editor: Ben Armour