Singapore Interest Rates

Last ReleaseFeb 06, 2026

Previous0.89

FrequencyDaily

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Units In%

The Monetary Authority of Singapore does not control the monetary system by monitoring interest rates. Instead, it manages the Singapore dollar (SGD) exchange rate against a trade-weighted basket of currencies of Singapore's major trading partners and competitors. On January 28th, 2015 Singapore’s Monetary Authority surprisingly reduced the slope at which the SGD appreciates against main currencies, citing lower inflation expectations due to falling oil prices. The Singapore Overnight Rate Average or SORA is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8.00am and 6.15pm.

Latest Updates

The Monetary Authority of Singapore (MAS) held monetary policy steady for a third consecutive review on January 29, 2026, maintaining the slope, width, and center of the Singapore dollar nominal effective exchange rate (S$NEER) policy band. However, the central bank lifted its 2026 inflation outlook, projecting both core and headline inflation at 1%–2%, up from the previous forecast range of 0.5%–1.5%. The policy board assessed that risks to both growth and inflation are tilted to the upside, noting that persistently stronger-than-expected economic growth could fuel faster wage gains and improve consumer sentiment, thereby adding to inflationary pressures. In addition, ongoing geopolitical developments may push up imported costs. MAS also said economic growth is likely to remain resilient in 2026, while underlying price pressures are gradually returning closer to their long-term trend.

Historical Data

Highest	Lowest	Average	Date Range	Source
20	-0.75	1.93 %	1988-2026	Monetary Authority of Singapore