The shift toward a softer, less uniform rate-hiking campaign partly reflects growing disparities in a global economy still struggling with the aftershocks of Covid and Russia’s invasion of Ukraine. Another explanation is that debt burdens leave some economies more sensitive than others to tighter credit.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would
July 31, 2026