It is time to put idle cash back into the market
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THE WRITING has been on the wall for some time. With US inflation down a long way from its peak in 2022, the US Federal Reserve has indicated that interest rates will likely be cut later this year.
Because Singapore effects monetary policy through its exchange rate, local interest rates tend to track US interest rates. So, it seems quite likely that local rates are on their way down too.
After hitting a high of 4.07 per cent in September last year, yields on local six-month Treasury bills (T-bills) have drifted lower to hover between 3.7 and 3.8 per cent since November last year.
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