Singapore SIBOR rate watch
From Post1Wiki
The 3-month Singapore SIBOR rate, where SIBOR stands for Singapore Inter-Bank Offered Rate, is a closely-watched interest rate indicator. The movement of the SIBOR interest rate has an impact on domestic loans, especially for big-ticket items such as home loans and car loans. This is particularly the case for SIBOR-linked or SOR-linked home loans that are directly tied to the SIBOR rate or its close cousin, the SOR (Swap Offer Rate).
The SIBOR rate also has an influence on the deposit rates of local Singapore banks, as it moves up or down, savings account and fixed deposit interest rates are adjusted accordingly, with a time lag. SIBOR itself is affected by the relative supply of, and demand for money. Its movement has been empirically linked to the Federal Reserve interest rate, though it does not necessarily move with the Fed rate in lockstep fashion.
Singapore SIBOR rate developments :
- Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004 (2008-11-10)
- Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004 (2008-04-30)
- Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004 (2008-03-26)
- Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004 (2008-01-28)
- Singapore interbank rate hits 7-year high (3.1875%) (2005-11-24)
See also :
