Singapore Interest Rate

Last Release

Nov 04, 2025

Actual

1.03

Units In

1.35

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
20 Jan 1990	-0.75 Oct 1993	1.95 %	1988-2025	Monetary Authority of Singapore

The Monetary Authority of Singapore does not control the monetary system by monitoring interest rates. Instead, it manages the Singapore dollar (SGD) exchange rate against a trade-weighted basket of currencies of Singapore's major trading partners and competitors. On January 28th, 2015 Singapore’s Monetary Authority surprisingly reduced the slope at which the SGD appreciates against main currencies, citing lower inflation expectations due to falling oil prices. The Singapore Overnight Rate Average or SORA is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8.00am and 6.15pm.

Latest Updates

The Monetary Authority of Singapore (MAS) left its monetary policy unchanged on Tuesday, maintaining the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) band, with no change to its width or centre. Having eased policy twice this year, the central bank said it remains well-positioned to respond to risks to medium-term price stability and is closely monitoring global uncertainties. Advance estimates showed the country's Q3 GDP rose 1.3% qoq, slightly below Q2’s 1.5% but above expectations, supported by manufacturing and domestic demand despite U.S. tariff headwinds. Year-on-year growth moderated to 2.9% from 4.5%. MAS expects growth to ease as trade-related sectors normalise, though AI investment, infrastructure spending, and financial conditions should support activity. GDP is projected to return to near-trend in 2026, with core inflation averaging 0.5% in 2025 and rising to 0.5–1.5% in 2026.