Singapore interest rateSS

Singapore interest rate

2.98%R
−0.07
%
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Key data points


Last release
Observation period
Dec 18, 2024
Next release
Forecast
Highest
20.00% on Jan 19, 1990
Lowest
−0.75% on Oct 29, 1993

About Singapore interest rate


Category
Money
Frequency
Daily
Units
%
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. The Singapore Overnight Rate Average or SORA is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8.00am and 6.15pm.

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Frequently Asked Questions


Singapore interest rate is 3.05% at the moment.
Last month Singapore interest rate was 3.05%, and the month before that it amounted to 3.15%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.