CGS-CIMB Research analysts Andrea Choong and Lim Siew Khee have maintained their “overweight” rating on the Singapore banking sector as the US Federal Reserve (Fed) signalled sooner-than-expected rate hikes.

The Fed, on June 17 (Singapore time), indicated that it may see two interest rate hikes by end-2023, with an initial interest rate increase happening as soon as late-2022.

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