Singapore Interest Rate

Last Release

Jul 31, 2025

Actual

1.82

Units In

1.87

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
20 Jan 1990	-0.75 Oct 1993	1.96 %	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) kept its policy stance unchanged on Wednesday, maintaining the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) band after easing in its last two meetings. The width and center of the band were also left unchanged, with the MAS citing risks from potential U.S. tariffs. The central bank said it “is in an appropriate position to respond to risks to medium-term price stability.” On the economy, GDP growth is expected to slow in H2 of 2025 after a strong first half. Trade-related sectors may ease, while construction and parts of financial services could be helped by increased infrastructure investment and more accommodative financial conditions. However, growth prospects remain uncertain, particularly into 2026. Cost pressures are expected to stay contained in the near term, with MAS core inflation projected to rise slightly later in 2025. For the year, both core and headline inflation are forecast at 0.5–1.5%.