(Yicai Global) Oct. 14 -- China's interbank rates moved up in unison today as the People's Bank of China opted to forgo open market operations for the ninth day in a row, saying that current liquidity is still at ample levels.

 The overnight Shanghai Interbank Offered Rate moved 14.80 basis points higher to 2.7030 percent and the one-week rate rose 3.30 bips to 2.6840 percent. The SHIBOR for three-month loans edged 0.90 percent higher to 2.7310.

 The PBOC passed on open market operations, saying it is expecting a total of CNY40 billion in liquidity to flow into the monetary system, after it cut the required reserve ratio for regional and city commercial banks today.

 In other developments, China's consumer prices went up 3.0 percent last month over the same period a year ago, according to data the country's National Bureau of Statistics published today.

This is the seventh straight month that this inflationary gauge has recorded a reading above 2.0 percent.

Editor: Ben Armour