Lower domestic interest rates should go some way to ease financial strains for companies and households, but these are still uncertain times, says Coface chief APAC economist Bernard Aw. SINGAPORE: Local interest rates have fallen by about 50 per cent since 2024. The 3-month compounded Singapore Overnight Rate Average (SORA) – often used as a benchmark for residential mortgages and other medium-term loans – dropped to as low as 1.44 per cent this year. Singapore’s approach to monetary policy