Singapore Average Overnight Interest Rate  1988-2016 | Data | Chart

The Monetary Authority of Singapore said in its Semi-Annual policy statement that it would slightly reduce the rate of appreciation of the Singapore dollar against a basket of currencies of the nation’s main trading partners, in an effort to revive economic growth. Interest Rate in Singapore averaged 1.67 percent from 1988 until 2015, reaching an all time high of 20 percent in January of 1990 and a record low of -0.75 percent in October of 1993. Interest Rate in Singapore is reported by the Monetary Authority of Singapore.

Singapore Average Overnight Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.72 0.65 20.00 -0.75 1988 - 2015 percent Daily
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. On January 28th, 2015 Singapore’s Monetary Authority surprisingly reduced the slope at which the SGD appreciates against main currencies, citing lower inflation expectations due to falling oil prices. This page provides the latest reported value for - Singapore Average Overnight Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Average Overnight Interest Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-10-14 12:00 AM Semi-Annual Monetary Policy Decision

Singapore to Slow Appreciation of Its Currency


The Monetary Authority of Singapore said in its Semi-Annual policy statement that it would slightly reduce the rate of appreciation of the Singapore dollar against a basket of currencies of the nation’s main trading partners, in an effort to revive economic growth.

Policymakers will maintain the policy of a modest and gradual appreciation path of the Singapore dollar nominal effective exchange rate policy band. There will be no change to the width of the policy band, or the level at which it is centered. This measured adjustment follows the move to reduce the rate of appreciation of the policy band in January this year, and is supportive of economic growth into 2016, while ensuring price stability over the medium term.  

Advance estimates showed the island nation's economy expanded by 1.4 percent year-on-year in the September quarter, following a revised 2.0 percent expansion in the second quarter of 2015. It is the slowest annual growth since the first quarter of 2012. On a quarter-on-quarterseasonally adjusted annualized basis, Singapore had narrowly avoid a recession by growing 0.1 percent, following an upwardly revised 2.5 percent contraction in the June quarter.



Monetary Authority Singapore l Rida Husna | rida@tradingeconomics.com
10/14/2015 5:37:58 AM

Singapore Money Last Previous Highest Lowest Unit
Interest Rate 0.72 0.65 20.00 -0.75 percent [+]
Interbank Rate 0.88 0.88 12.00 0.17 percent [+]
Money Supply M0 34042.30 33525.90 34042.30 1133.10 SGD Million [+]
Money Supply M1 160445.80 160562.10 162744.30 1202.00 SGD Million [+]
Money Supply M2 520239.70 521175.70 521868.80 6182.30 SGD Million [+]
Money Supply M3 532944.50 533883.70 533883.70 6878.30 SGD Million [+]
Foreign Exchange Reserves 348858.20 350990.80 357847.60 4174.40 SGD Million [+]
Banks Balance Sheet 1057760.40 1057258.50 1075472.30 1509.90 SGD Million [+]
Loans to Private Sector 599826.60 603909.20 613490.60 16439.80 SGD Million [+]
Deposit Interest Rate 0.14 0.14 10.71 0.14 percent [+]
Central Bank Balance Sheet 365034.20 362589.00 372093.20 271915.00 SGD Million [+]




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