SOR has been on the rise, probably in tandem with Libor as well as USD/SGD exchange rates, while SIBOR continues to hold still at 0.69%. This highlights the difference between market vs. policy driven interest rates. In the past few days however, money market rates have fallen ahead of the US Fed meeting as they anticipate moves to keep borrowing costs low and spur lending.
Meanwhile, in the midst of supposed signs of rebound, the level-headed Jim Rogers gave warnings on impending inflation as “governments worldwide are printing money to prop up economies at a time when commodities supply is under pressure”.
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