News analysis

More pain in store for Singapore home buyers and businesses with latest Fed rate hike

Singapore's Big Three banks already raised home loan rates in June, following the Fed's 75-basis point hike that month. ST PHOTO: FELINE LIM
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SINGAPORE - If you have a mortgage or your company is highly geared with significant borrowing, the next six to twelve months could be painful for you.

That is the message analysts are sounding after the US Federal Reserve on Wednesday (July 27) hiked its key lending rate by a hefty 75 basis points for the second straight month.

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