just last month, when the central bank hiked the benchmark interest rate by 0.50 percentage point — the biggest raise in over two decades — as it tries to keep in check inflation that has soared to 40-year highs.
This would include all forms of borrowing such as student loans and personal loans, as they are likely to track the US interest rates, though the economists differ on how immediately or closely the increase here would follow that in America.Economists whom TODAY spoke to said that the central bank’s aggressive move is basically it “playing catch up” to inflation in the wake of the post-Covid economic recovery.
Economists cite the impact of the war in Ukraine on energy and commodity prices, as well as supply chain disruptions from the pandemic, as some of such factors. Mr Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, on the other hand said that it would be too early to judge the impact of the rate hike.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Federal Reserve rolls out biggest interest rate hike since 1994, flags slowing economyWASHINGTON — The Federal Reserve on Wednesday (June 15) approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that United States (US) central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out I did that!
Source: TODAYonline - 🏆 1. / 99 Read more »
US Fed rolls out biggest rate hike since 1994, flags slowing economyWASHINGTON - The Federal Reserve on Wednesday (June 15) approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that US central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands. The widely expected move raised the...
Source: asiaonecom - 🏆 10. / 59 Read more »
US Fed announces biggest interest rate hike since 1994WASHINGTON: The Federal Reserve announced the most aggressive interest rate increase in nearly 30 years, raising the benchmark borrowing rate by 0.75 percentage points on Wednesday (Jun 15) as it battles against surging inflation. The Fed\u0027s policy-setting Federal Open Market Committee reaffirmed th
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hockey: National women's team qualify for first Asian Games since 1994Four years can feel like a lifetime for athletes, but the wait was made even sweeter for the national women’s hockey team on Tuesday (June 14), when they finished third at the 2022 Women’s Asian Games Qualifier in Jakarta. In 2017, they had narrowly missed out on...
Source: thenewpaper - 🏆 7. / 63 Read more »
National women's hockey team qualify for first Asian Games since 1994SINGAPORE – Four years can feel like a lifetime for athletes, but the wait was made even sweeter for the national women’s hockey team on Tuesday (June 14), when they finished third at the 2022 Women’s Asian Games Qualifier in Jakarta. In 2017, they had narrowly missed out on a spot at the 2018 Asian Games after suffering a 4-3...
Source: asiaonecom - 🏆 10. / 59 Read more »
CNA Explains: US Fed makes biggest rate hike since 1994 – what does it mean for you and your mortgage rate?SINGAPORE: The United States Federal Reserve has made its biggest interest rate hike in nearly 30 years, as it steps on the pedal to combat surging inflation. The move is set to have Already chicken up,eggs up ,coe up,petrol up ..don't say all bcos of Ukraine war ok ..
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »