22
February
2019
|
15:36
Europe/Amsterdam

Consumers feel the pinch of rising interest rates

Prof Sumit Agarwal, Low Tuck Kwong Distinguished Professor at NUS Business School and Professor in the depts of Economics, Finance and Real Estate at NUS noted that rising interests in Singapore will have an impact on consumers with existing loans or those thinking of taking out new loans. He opined that the most vulnerable consumers would be those who do not understand financial markets and how banking works, and that greater financial literacy would allow consumers to make better decisions.