ST Explains: How will rising rates in the US affect housing loans and property prices in Singapore?
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SINGAPORE - The United States central bank has raised benchmark interest rates by 0.75 percentage point - the biggest increase since 1994.
The decision to hike by what Federal Reserve chair Jerome Powell called an "unusually large" amount came as inflation in the US hit 8.6 per cent in May, a level not seen in more than 40 years.