Tuesday 10 Nov 2026
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(Nov 10): Singapore’s interbank rates climbed to the highest in more than a year, as tighter local liquidity and expectations for further US interest-rate hikes pushed up borrowing costs. 

The cost of overnight borrowing in Singapore’s interbank market rose 11.7 basis points to 1.7446% as of Friday, according to data published Tuesday. That was the highest since July 2025. Local markets were shut on Monday for a holiday.

Markets are bracing for the possibility of further tightening by the US Federal Reserve, which raised its benchmark rate by 25 basis points in September before leaving it unchanged in October. The Monetary Authority of Singapore, meanwhile, kept monetary policy unchanged in October after tightening in both April and July.

Liquidity in Singapore has also tightened as loan growth outpaced deposits. The loan-to-deposit ratio rose to 69.8% in September, according to the latest central bank data, the highest since August 2024.

Uploaded by Chng Shear Lane

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