Singapore interest rates on upward march tracking higher US rates

SINGAPORE interest rates seem to be finally on their upward march tracking higher US rates.

The three-month SOR, or swap offer rate, stayed above one per cent the whole of last week hitting a year-high of 1.06973 per cent on Wednesday, a significant development, said Eugene Leow, DBS Bank rate strategist.

So far this year, it has been the longest five days the three-month SOR has managed to keep above one per cent.