But SHIBOR overnight rate is affected slightly, so its property of anti-disturbance is best.

但是SHIBOR隔夜利率受到的影响最小，因此它的抗干扰性最好。

Shanghai Interbank Offered Rate(Shibor) is the Basic Interest Rate which is created by the central bank.

上海银行间同业拆放利率是中央银行着力打造的基准利率。

The paper explores the relationship between interbank payment flows in China's Large Value payment System and SHIBOR.

本文研究了我国大额支付系统中银行间支付流与银行间同业拆借利率之间的关系。

Test the stability of exchange rate, stock indices to Shibor by the use of impulse response function methods and other empirical analysis.

运用脉冲响应函数等实证分析方法，检验汇率、股票指数变动对上海银行间同业拆放利率稳定性的影响。

The author considered that now in China, the most suitable benchmark interest rate of the market is Shibor (Shanghai Interbank Offered rate).

作者认为在我国现阶段，上海银行间同业拆放利率是最合适的市场基准利率。

On the basis of the empirical analysis, this paper propose appropriate policy recommendations in order to further strengthen the position of Shibor.

在实证分析的基础上，本文就进一步强化上海银行间同业拆放利率的基准利率地位，提出相应的政策建议。

In order to promote the market-based process of interest rate, this paper has constructed the basic model of term structure of Shibor regarding Shibor as the research object.

为了推动利率市场化进程，本文以Shibor作为研究对象，构造了Shibor期限结构的基础模型。

In the second part, the author will first investigate the reflection effect of SHIBOR on market anticipation, and then research the conduction effects of SHIBOR in the bonds market.

在长端利率体系方面，本文将首先考察SHIBOR对于市场预期的反应，然后考察其对于债券市场利率体系的引导效果。