Photo cred9it: Andre Taissin/Unsplash By now it should be widely known that UOB is reducing the interest rates of its flagship UOB One Account from 1 May 2024. This announcement was made as early as 1 April to give its customers a one month’s heads-up. While the notice period was nice, a lot had changed on the macro-economic front during this period. Specifically, inflation continued to stay hot which caused Fed to postpone its decision to unwind its interest rate hike. With Fed’s delay, did UOB jump the gun by cutting UOB One Account interest rates too early? UOB ONE ACCOUNT INTEREST RATE FROM 1 MAY 2024 Of the 3 local banks, UOB One Account stood out for the relative ease to unlock 5% effective interest rate on $100,000 of deposits. This yields $5,000 per annum, enough to fund the travel expenses of a small family for a regional holiday. As such, my family prioritised UOB One Account as our main banking accounts to maximise the interest that...