Singapore Interest Rate

The benchmark interest rate in Singapore was last recorded at 0.21 percent. Interest Rate in Singapore is reported by the Monetary Authority of Singapore. Interest Rate in Singapore averaged 1.68 Percent from 1988 until 2014, reaching an all time high of 20 Percent in January of 1990 and a record low of -0.75 Percent in October of 1993. Sibor is a reference rate based on the interest rates at which banks offer to lend unsecured funds to each other in the Singapore interbank market. In Singapore, the monetary policy decisions are taken by The Monetary Authority of Singapore (Penguasa Kewangan Singapura). The Monetary Authority of Singapore does not control the monetary system by monitoring interest rates. Instead, it manages the Singapore dollar (SGD) exchange rate against a trade-weighted basket of currencies of Singapore's major trading partners and competitors. This page provides - Singapore Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.21 0.15 20.00 -0.75 0.25 | 2014/04 1988 - 2014 Percent Monthly

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Singapore Interest Rate
LIST BY COUNTRY

Money Last Previous Highest Lowest Forecast Unit
Interest Rate 0.21 2014-03-31 0.15 20.00 -0.75 0.25 2014-04-30 Percent [+]
Foreign Exchange Reserves 343209.10 2014-03-31 347096.90 347144.40 4174.40 344950.40 2014-04-30 SGD Million [+]
Interbank Rate 0.40 2013-12-31 0.40 8.00 0.25 0.50 2014-01-31 Percent [+]
Loans to Private Sector 358050.40 2014-02-28 356445.30 358050.40 87783.50 361574.83 2014-03-31 SGD Million [+]
Money Supply M0 29804.70 2014-02-28 30851.60 30851.60 1133.10 30123.36 2014-03-31 SGD Million [+]
Money Supply M1 157077.20 2014-02-28 160551.40 160551.40 1202.00 159810.00 2014-03-31 SGD Million [+]
Money Supply M2 499451.20 2014-02-28 501844.70 501844.70 6182.30 501090.82 2014-03-31 SGD Million [+]
Money Supply M3 510345.10 2014-02-28 512796.80 512796.80 6878.30 512487.84 2014-03-31 SGD Million [+]
[+]


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


RELATED NEWS

Singapore GDP Growth Down to 2-Year Low  
Singapore's economy advanced 0.1 percent in the first quarter of 2014 on a quarter-on-quarter seasonally-adjusted annualized basis, slowing sharply from 6.1 percent in the preceding quarter. It is the lowest growth rate since the second quarter of 2012.
Singapore GDP Growth Slows in Q1  
The Singapore economy grew by 5.1 percent on a year-on-year basis in the first quarter of 2014, lower than the 5.5 percent growth in the previous quarter, according to advance estimates. While manufacturing and construction accelerated, the services sector slowed.
Singapore Inflation Rate Slows to 4-Year Low  
In February of 2014, Singapore’s annual inflation rate slowed sharply to 0.4 percent, the lowest level since January of 2010, due to a sharp drop in car prices which largely reflected a higher base in February last year.
Singapore Trade Surplus Increases in February  
Singapore’s trade surplus widened 8 percent over the previous month and 74.4 percent over a year earlier, boosted by higher exports of petrochemicals and pharmaceuticals.
Singapore Unemployment Rate Confirmed at 1.8% in Q4  
Singapore’s jobless rate was recorded at 1.8 percent in the last three months of 2013, unchanged from the previous quarter and matching preliminary estimates.
Singapore Inflation Rate Decelerates in January  
In January of 2014, Singapore’s annual inflation rate inched down to 1.4 percent from 1.5 percent in December last year, due to a more moderate increase in accommodation cost and a larger decline in private road transport cost. On a monthly basis, prices rose 0.1 percent.
Singapore’s Q4 2013 GDP Revised to Growth From Contraction  
In the last quarter of 2013, Singapore’s GDP expanded at an annualized seasonally adjusted 6.1 percent over the previous quarter, a reversal from the 2.7 percent contraction estimated in January, and up from 0.3 percent in the previous three-month period.
Singapore Economy Grows 5.5% in Q4  
In the fourth quarter of 2013, Singapore GDP expanded 5.5 percent compared to a year ago, faster than the advance estimate of 4.4 percent.
Singapore’s Trade Surplus Widens in January Over a Year Earlier  
In the first month of 2014, Singapore’s trade surplus narrowed 6.2 percent over December to SGD 3.97 billion. However, compared with the same month last year, it widened 114.7 percent, as exports rose 2.9 percent while imports contracted 0.9 percent.
Singapore Unemployment Rate Steady at 1.8% in Q4 2013  
Preliminary estimates showed that in the fourth quarter of 2013, Singapore's overall jobless rate was unchanged at 1.8 percent, the same rate recorded in the previous quarter. Unemployment for citizens was also steady at 2.8 percent. The resident unemployment rate edged up slightly from 2.6 percent in Q3 2013 to 2.7 percent in Q4 2013.
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