Fed Starts Cutting Interest Rate Aggressively
Fed Starts Cutting Interest Rate Aggressively on 19 September 2024
How does this affects Singapore property? When there is lower cost of borrowing people borrow more and invest resulting increase in demand for property resulting in price to increase.
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Most people only expected a 25 basis point drop in interest rate, but its shocking that the first interest rate cut after 4 years was an aggressive 50 basis point cut, this indicates that Fed will continue to cut rate aggressively. This is very bullish indicator.
At the same time people who put their funds in bond will take out their funds from bonds to put into assets like property to get better rate of return, as bonds interest rates drop and property value increase. This further post the property value up.
UOB:
…… Post-Sep FOMC, we expect the Fed to continue the rate cut cycle in the remaining meetings of 2024, where we forecast 50-bps cuts for the remainder of 2024 (i.e. two 25-bps cuts, one each in Nov 24 and Dec 24 FOMC). We maintain the expectations of 100 bps of cuts in 2025 (one 25-bps cuts per quarter)….
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