According to a recent Goldman Sachs report, for the period from 2005 to 2012, household debt in Singapore grew by 63 per cent, outpacing the average household income growth of 57 per cent. Irvin Seah, a senior economist with DBS Bank, said: "Among Asian economies, Singapore and Hong Kong will be the most vulnerable to an interest rates hike because of the rapid increase in leverage ratios over the last few years (in) a low interest rate environment.
Posted on: Tue, 10 Sep 2013 07:10:59 +0000
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