Economy

Yellen says higher interest rates would be 'plus' for US, Fed

WASHINGTON (BLOOMBERG) – Treasury Secretary Janet Yellen said that President Joe Biden’s US$4 trillion (S$5.3 trillion) spending plan would be good for the US, even if it contributes to rising inflation and results in higher interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus for […]

Economy

Yellen says US interest rates may have to rise if economy heats up; comments roil markets

WASHINGTON (AFP) – US interest rates may have to increase “somewhat” to keep a lid on inflation if President Joe Biden’s latest spending proposals are enacted and the economy heats up, Treasury Secretary Janet Yellen said on Tuesday (May 4). But after her comments set off a mini-firestorm and sent stock prices tumbling, Ms Yellen […]

Business

UOB prices capital securities referencing Sora

SINGAPORE (THE BUSINESS TIMES) – UOB announced on Friday (Jan 8) that it has successfully priced capital securities with a reset coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (Sora-OIS) rate, which is believed to be the first in Singapore. The bank’s latest issuance is a step forward to promote the […]

Business

DBS cuts again interest rates on flagship Multiplier savings account

SINGAPORE (THE BUSINESS TIMES) – Singapore’s largest lender DBS will again this year cut rates on its flagship deposit account from Aug 1 amid a low interest rate environment and macro uncertainties. This comes two months after a set of rate revisions for the DBS Multiplier account that took effect on May 1. The DBS […]