The financial sector for Singapore, which also includes the mortgage sector, has been given more preparation time for the impending benchmark rate rise now that the United States’ central bank has indicated that the earliest time for an increase would not likely occur until September.
High Park Residences Interest
While this will lessen the uncertainty that is being felt by some Singaporean High Park Residences exporters as they grow closer to the near term, many experts are of the view that the benchmark interest rate for Singapore could experience movements that are a bit erratic until it is able to stabilize as it gets closer to the end of 2015 for CEL Fernvale Condo.
Following the Thursday, June 18th announcement that was made by the US Federal Reserve, the three month SIBOR (Singapore Interbank Offered Rate) stayed at its unchanged 0.82%, whereas there was a slight strengthening of S$1.33 per U.S. dollar for the local currency’s exchange rate against the green backs.
More Looking at Fernvale Development
By the same token, the announcement made by the US central bank seemed to implicate that 2015 could witness two hikes in the rates, with September seeing the first hike. However, it was said that in raising the interest rates a less aggressive attitude Fervale Road Condo would be taken.
Francis Tan a noted UOB economist, has said that it is expected that Singapore will follow suit with its interest rates once a concrete announcement has been made by the US Federal Reserve, according to sources at Channel News Asia.
He further stated that they are expecting interest rates for Highpark condo to be overshot at a quick and higher pace, but it should then drop back down and move towards 1.25% toward the end of 2015.