ST Explains

What the US Fed's latest big rate hike means for Singapore

The latest Fed rate hike will mean loans will become even more expensive. ST PHOTO: KUA CHEE SIONG
New: Gift this subscriber-only story to your friends and family

SINGAPORE - Stock and bond prices plunged and the US dollar rallied as the Federal Reserve raised its benchmark rate to the highest level in 14 years to crush surging inflation.

The United States central bank raised the Fed funds rate by 75 basis points, or 0.75 percentage point, on Wednesday to a new target range of 3 per cent to 3.25 per cent - the highest since 2008.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.