3-month Sibor crosses 1.25% mark

A key benchmark interest rate used to price home loans rose again on Wednesday (Jan 13), crossing the 1.25 per cent mark to reach a level last seen about seven years ago.

According to data from the Association of Banks in Singapore, the three-month Singapore Interbank Offered Rate (Sibor) was fixed at 1.252 per cent on Wednesday, up from 1.249 per cent on Tuesday.

The three-month Sibor stood at 1.185 per cent at the end of 2015, having risen by around half a percentage point over the course of the year.

Interest rates in Singapore have risen over the past week and a half amid increasing concerns about China. The turmoil in financial markets has also hit the Singapore dollar, which traded around 1.4338 to the US dollar late Wednesday in Asia compared with 1.4122 at the start of 2016.

Source : Channel NewsAsia – 13 Jan 2016

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