I have seen a few articles covering Singapore's low interest/T bills rate. There are a few reasons why these rates have remained low and will likely remain at such levels for the next few years (venture a guess it could be for the next 3-5 years)
High Leveraged Society on Real Estate
Look no further beyond Singapore's property market. The market is in a buying overspree mode, with people leveraging heavily to buy multiple properties in hopes of profitting from it.
The overbuying of properties help spurs Singapore's GDP as the construction industry overbuilds ahead of population growth. While the government is aware of the overleverage, it has sought to minimise interest rates hikes that kills property investors. This is because a higher interest means it is more difficult to service debt obligations, foreclosure happens and this will trigger a downturn of prices which causes margin call among property investors. This will...