The benchmark interest rate in Singapore was last recorded at 1.72 percent. Interest Rate in Singapore averaged 1.66 percent from 1988 until 2019, 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 expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Singapore to stand at 1.90 in 12 months time. In the long-term, the Singapore Average Overnight Interest Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.

Singapore Average Overnight Interest Rate
Forecast Data Chart
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Singapore Money Last Previous Highest Lowest Unit
Interest Rate 1.72 1.74 20.00 -0.75 percent [+]
Interbank Rate 1.87 1.87 9.84 0.34 percent [+]
Money Supply M0 47567.50 47125.60 47567.50 1133.10 SGD Million [+]
Money Supply M1 193595.80 189775.40 193595.80 1202.00 SGD Million [+]
Money Supply M2 624278.20 620413.00 624278.20 6182.30 SGD Million [+]
Money Supply M3 638167.00 634276.90 638167.00 6878.30 SGD Million [+]
Foreign Exchange Reserves 376475.60 377825.20 404019.30 4174.40 SGD Million [+]
Banks Balance Sheet 1339286.30 1333908.70 1339286.30 1509.90 SGD Million [+]
Loans to Private Sector 684880.40 680704.30 687081.60 16439.80 SGD Million [+]
Deposit Interest Rate 0.20 0.20 12.80 0.13 percent [+]
Central Bank Balance Sheet 385336.10 382614.70 416258.30 271915.00 SGD Million [+]

Singapore Average Overnight Interest Rate

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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.72 1.74 20.00 -0.75 1988 - 2019 percent Daily

Country Last Previous
Argentina 70.99 Oct/19
Turkey 16.50 Sep/19
Mexico 7.75 Sep/19
Russia 7.00 Sep/19
South Africa 6.50 Sep/19
Brazil 5.50 Sep/19
Indonesia 5.25 Sep/19
India 5.15 Oct/19
China 4.20 Oct/19
Saudi Arabia 2.50 Sep/19
United States 2.00 Sep/19
Canada 1.75 Sep/19
Singapore 1.72 Sep/19
South Korea 1.50 Sep/19
Australia 0.75 Oct/19
United Kingdom 0.75 Sep/19
Euro Area 0.00 Sep/19
France 0.00 Sep/19
Germany 0.00 Sep/19
Italy 0.00 Sep/19
Netherlands 0.00 Sep/19
Spain 0.00 Sep/19
Japan -0.10 Sep/19
Switzerland -0.75 Sep/19