Last week, we shared that some banks have cut their fixed deposit rates. It was hence not a surprise that some promotional interest rates on savings accounts have been taken down. However, we were pleased to see that most banks continue to offer fairly attractive interest rates on savings accounts in January 2024. Likewise, the best priority banking accounts continue to dangle attractive rewards and promotional interest rates for customers. Despite the fall in interest rates, the yield on the 6-month Singapore T-bill has remained fairly steady. We find out if the spike in T-bills to be issued in the upcoming auction might help to support its yield. Source: Bloomberg. Price as of market close on 12 Jan 2024 🔥 HOT INFLATION DATA SHRUGGED OFF What happened? US inflation rose more than expected in December, with the consumer price index (CPI) rising by 3.4% compared to the previous year. The acceleration in inflation was driven by largely by higher energy and housing prices....