Singapore’s three-month interbank loan rate fell for a 15th day, capping its biggest weekly decline since July 2009, as record economic growth on the island and signs of global expansion bolstered lenders’ confidence.

Sibor, which banks charge each other to borrow in U.S. dollars, fell 0.7 basis points to 0.429% when the rate was fixed at 11 a.m. local time. The rate declined 5 basis points this week and now stands at the lowest level in three months.

 

Yields worldwide indicate investors are becoming more willing to lend as economies expand. Singapore’s economy is vying to be the world’s fastest-expanding in 2010 as rising demand for goods and services prompted the government to raise growth forecasts three times this year.