Sibor, used to price home loans, rises 6.3% while SOR, for pricing commercial loans, soars 7.8%
SINGAPORE's key lending rates jumped on Wednesday as the Singapore dollar fell sharply to a five-year low on two days of yuan devaluation.
The three-month Sibor or Singapore interbank offered rate, which is used to price home loans, jumped to 0.93450, up 0.05542 from Tuesday's 0.87908. The gain was 6.3 per cent and took the key interest rate nearer to the year-high of 1.02705 on April 9.