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.
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