🚂 China economy running at full speed
What happened?
China manufacturing activity, as measured by the official manufacturing Purchasing Managers’ Index (PMI), rose to 52.6 in February, the highest since April 2012....If you’re looking at the news headlines to understand the latest interest rate trends this week, you’ll probably come across mixed signals.
The cut-off yield on the latest 6-month Singapore T-bill rose to 3.98%.
The latest Singapore Savings Bond is now offering interest rates of above 3% once again.
The maximum interest rate on the UOB Stash Account was also raised to 5%.
However, banks have been cutting the interest rates on fixed deposit accounts. Most notably, OCBC has stopped offering its 8-month fixed deposit at 3.88%.
We analyse each of these developments to find out where is the best place to park our spare cash now.
Source: Bloomberg. Price as of market close on 2 March 2023
