The benchmark interest rate in Singapore was last recorded at 0.57 percent. Interest Rate in Singapore averaged 1.66 percent from 1988 until 2017, reaching an all time high of 20 percent in January of 1990 and a record low of -0.75 percent in October of 1993.
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 April of 2017.