The benchmark interest rate in Singapore was last recorded at 0.22 percent. source: Monetary Authority of Singapore

Interest Rate in Singapore averaged 1.65 percent from 1988 until 2021, reaching an all time high of 20 percent in January of 1990 and a record low of -0.75 percent in October of 1993. 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 - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Interest Rate in Singapore is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Average Overnight Interest Rate is projected to trend around 0.70 percent in 2022 and 1.00 percent in 2023, according to our econometric models.

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Singapore Average Overnight Interest Rate

Related Last Previous Unit Reference
Interest Rate 0.22 0.07 percent Oct/21
Money Supply M1 279010.70 277463.70 SGD Million Sep/21
Money Supply M0 56307.50 56141.00 SGD Million Sep/21
Money Supply M2 722274.30 717310.60 SGD Million Sep/21
Money Supply M3 735297.90 730195.20 SGD Million Sep/21
Foreign Exchange Reserves 565000.90 565804.20 SGD Million Oct/21
Banks Balance Sheet 3067189.10 3019463.40 SGD Million Sep/21
Loans to Private Sector 804035.60 803832.20 SGD Million Oct/21
Central Bank Balance Sheet 578760.00 567614.00 SGD Million Aug/21
Singapore Average Overnight Interest Rate
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. 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.