(Yicai Global) Dec. 26 -- The reference rates at which Shanghai banks lend unsecured funds to other banks in the short-term have climbed today as the country's central bank activated less reverse repos than yesterday. 

The three-month class of the Shanghai Interbank Offered Rate, also known as Shibor, rose the most by 3.6 basis points to 3.3090 percent. The seven-day Shibor edged up 1.9 points to 2.6720 percent. The overnight rate increased 0.1 basis point to 2.0290 percent.

The People's Bank of China issued 7-day reverse bond repurchase agreements worth CNY20 billion (USD2.9 billion), instead of CNY30 billion as of yesterday, at the rate of 2.55 percent. It also cut the amount of 14-day reverse repos to half at CNY10 billion, available at the rate of 2.7 percent. Some CNY400 billion (USD58.1 billion) worth of such purchase agreements reached maturity during the day.

PBOC resumed issuing reverse repos last week after a 36-day hiatus to add liquidity to money markets.

Editor: Emmi Laine