My Financial Thoughts

The other day,  a friend told me about a mortgage broker she knows and I said “Huh? What does he do?”
A mortgage broker, I gathered later, is one who helps you to source for good deals on your mortgage. So, the part where we hate most – reading and finding out about what banks are [...]

This is taken from today’s The Star. The Overnight Policy Rate (POR) was reduced from the previous rate which was 3.25% to 2.5%. Apart from that, the SRR (Statutory Reserve Requirement) was also reduced from 3.5% to 2% currently.
What this effectively means is that the cost of borrowing will be lower and this will hopefully benefit the economy [...]