Fed’s higher-for-longer rate policy will hit borrowing costs in Singapore (Straits Times)
The US Federal Reserve on Wednesday raised interest rates by 50 basis points to a 15-year high and, more significantly, signalled that rates will have to move up more than previously anticipated and stay there for longer. The United States central bank’s Federal Open Market Committee (FOMC) raised its benchmark rate to a range of 4.25 per cent to 4.5 per cent, from 3.75 per cent to 4 per cent previously – a move widely expected.Layoffs in Singapore rise to 1,120 in Q3, driven by tech firms (Straits Times)
Retrenchments in Singapore increased in the third quarter of this year, up from the previous quarter’s record low, while the overall tightness in...
