Explainer: What does the US Fed's biggest interest rate hike in 2 decades mean for S'pore and the world?
SINGAPORE — The United States Federal Reserve (US Fed) has announced the biggest hike in its benchmark interest rate in over two decades as central banks around the world act to combat fast-rising inflation.
- The US Federal Reserve on May 4 announced its biggest rate hike since 2000, in a bid to combat inflation
- Several other central banks around the world have already taken similar action, with others expected to follow suit
- The moves are a response to a global outbreak of inflation, as countries emerge from the pandemic
- Economists said interest rates in Singapore such as car loans and mortgages are set to rise, but not as much as in some other countries
05 May 2022 07:59PM
(Updated: 06 May 2022 04:03PM)
Source: TODAY
