Explainer: As the US Fed flags more aggressive interest rate hikes, could S'pore mortgage rates hit 20-year highs?

again, but flagged more hikes this year and even next, a prospect that economists in Singapore said could drive mortgage rates here to levels not seen in about 20 years.raised its benchmark rate by a hefty 75 basis points, or 0.75 percentage points, to a new target range of 3 per cent to 3.25 per cent. It was the third outsized rate hike in a row, and comes after years of historically rock bottom borrowing costs.

Economists told TODAY on Thursday that they expect mortgage rates here to rise with the latest round of hikes. Singapore could also slide into a technical recession, they said. These include spiralling energy prices rising due to the Russia-Ukraine war, wage growth due to the tight labour market, rental inflation and resilient private consumption.

However, introducing it turned out to be a “huge mistake” because “inflation ran away and never came back”, Ms Ling said. Ms Ling of OCBC said that she expected the markets to be spooked by the latest round of aggressive hikes and the possibility of upcoming ones. Unlike the US Fed, Singapore's central bank does not set interest rates. Rather, many mortgage rates here are pegged to benchmark rates, which in turn are closely correlated with global interest rates, especially those in the US.

American elections have consequences... look at what happens when the world supports an imbecile US president and his gang of woke administration... nothing has gone right ever since, despite how MSM have been trying to hide all these. America needs to vote wisely in November.

We are always no.1 mah 🤣

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