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ASEAN INDICES
March 11, 2010
Market
Indices
Change

IDX

2,676.52 6.30
KLC 1,321.43 -6.79
PSEi * 3,119.63 12.28
SGX
7.77 0.05
SET  725.95 5.11
Source : Relevant bourses
Note   : * as of
10 Mar 10

CURRENCY EXCHANGE
March 11, 2010
Currency US$
Euro
Singapore $ 

1.31 1.87
Thai Baht*
  32.83

44.75

Malaysia Ringgit   
  3.32 4.53
Indonesia Rupiah
  9,231.00 12,592.93
Philippines Peso
  45.66

62.36

Source:Relevant central banks
Note   : *
as of 10 Mar 10
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Home  >>  Daily News  >>   Singapore News   >>  Capital Markets  >>  Singapore’s interest rates to stay low

NEWS UPDATES 
23 November 2009

Singapore’s interest rates to stay low

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Savings accounts have seen interest rates of below 1 per cent per annum since 2001 - and people hoping for better yields ahead will be disappointed, reported the Strait Times.

The rates are unlikely to rise - at least in the next six months, experts say.

Monthly average savings rates have been on a downward trend from January to last month. This means the annual average rate for this year is likely to dip below last year's already paltry 0.22 percent.

Rubbing salt into savers' wounds - inflation is likely to rise next year. Based on figures from 10 banks and financial institutions compiled by the Monetary Authority of Singapore (MAS), savings accounts earned an average of 0.22 percent a year in January, before holding at just 0.16 percent from July to last month.

This is a far cry from the 1.28 percent savers used to get in 2000, which was the last time interest rates exceeded 1 percent.


 

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