SINGAPORE (Sept 17): Given the growing US economy, the market expects the US federal funds rate (FFR) to be raised by 25bps during the Sept 25-26 Federal Open Market Committee (FOMC) meeting.
Correspondingly, the three-month SIBOR -- now at 1.64% -- is expected to rise, given the historical correlation between the FFR and three-month SIBOR.
In 2Q18, the three-month SIBOR averaged 1.51%. 3Q18 to date, the SIBOR is already averaging higher at 1.63%.
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