Our current expectation is that rate increases will slow down and dissipate into early next year. The Fed is likely to find a juncture next year where pausing and assessing will be the right strategy. The Fed has already made a very strong statement to the markets and to corporates, and likely will have an impact in 2023.
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