So, it seems that the interest rate in Singapore is indeed being artificially controlled and depressed by the MAS. The PAPies are doing this so that they have every good reason to implement all those cooling measures in the property market whilst at the same time to earn more directly for themselves via those additional stamp duties and taxes. In addition, they are also saving a lot more for themselves by not having to pay more interest in the citizens' CPF, which is in accordance to the 3-month average interests of the 3 major banks in Singapore, capped to a minimum of 2.5% and sounded very generous and convincing indeed. The Singapore government is thus doing all Singaporeans a very big disfavor. The Singapore government is indeed evil and treacherous.
I disagree on the point about MAS manipulating interest rates. Now I am not on the SG govt's side, I just want to point out that interest rates in SG are determined by the banks themselves through the SIBOR. Thats why recently MAS fined a whole bunch of them for manipulating the rates. MAS uses the SGD forex to control SG's inflation and economic expansion, unlike other central banks who use interest rates. Please read up first before concluding otherwise.
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