3-month SOR jumps to 1.54% on China economic weakness
Rate has risen 10% from a week ago and has more than tripled from 0.48% on Jan 19; 3-month Sibor is unchanged at 1.07%
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Singapore
SINGAPORE interest rates have jumped again as Asian currencies get hammered by continued China economic weakness.
The three-month swap offer rate (SOR) was quoted at 1.54 per cent on Tuesday, a rate last seen in December 2008. At 1.54 per cent, the three-month SOR which is used to price commercial loans has jumped 10 per cent from a week ago and has more than tripled from 0.48 per cent on Jan 19.
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