0339 GMT - Singapore banks' net interest margins should gain from a shift in the Federal Reserve's stance, Morningstar analyst Michael Makdad writes in a note. Recent comments from regional Fed presidents and policy board members suggest the Fed would be more likely to hold than cut U.S. interest rates, Makdad says. There are now one to two rate cuts implied by Fed funds futures, compared with expectations for two to three cuts a month ago, Makdad adds. Singapore banks' NIMs are currently around 2.1%-2.2%, and Makdad thinks they will stay around 2.1%, compared with the previous projection for NIMs to fall to around 2% in two or three years. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
January 12, 2025 22:39 ET (03:39 GMT)
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