China. yuan. prime rate. “Under the authorization of the People’s Bank of China (PBC), the National Interbank Funding Center (NIFC) announced the Loan Prime Rate (LPR) on September 20, 2022 as follows: the one-year LPR is 3.65% and the above-five-year LPR is 4.3%. The rates are effective until the next release.”—The Peoples Bank of China.
China. yuan. repo rate. The People’s Bank of China reports the 7-day reverse repo rate at 2.00% and 14-day rate of 2.15%. Total reverse repo operations amounted to RMB 26 billion.— The People’s Bank of China.
Investopedia defines a repo as a short term financing agreement between parties where the buyer agrees to purchase a basket of securities for a specified period and then promises to sell back those securities to the original owner at a slightly hire price.
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Japan. yen. lending incentive. The Bank of Japan today released the amounts available in three categories that are available to incentivize lending with category amounts listed in JPY100million. Category I contains JPY58,408. Category II contains JPY489,284. Category III contains JPY688,758. — Bank of Japan.
Australia. Reserve Bank of Australia. Today, the Reserve Bank of Australia released the minutes from its last monetary policy board meeting held on 6 September 2022. At that meeting, the Board raised its cash target rate amount 50 basis points to 2.35%. The Board also raised its rate on exchange settlement balances by 50 basis points to 2.25%.
The target cash rate is the market interest rate on overnight funds. Exchange settlement balances are the quantities traded in the cash rate markets. — Reserve Bank of Australia.
Foreign exchange rates as of 12:35 am EDT
USD/CNY = 7.0060
USD/JPY = 143.2790
AUD/USD = 0.6703
NZD/USD = 0.5957
Source: OANDA
Alton Drew's The Interbank Market 