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Singapore CFOs much more jittery over Fed rate hike fears compared to regional peers: BofAML

Singapore Business Review

80% view this as the year's biggest risk.

Chief Financial Officers (CFOs) in Singapore are substantially more anxious over U.S interest rate movements compared to regional peers, according to a survey by Bank of America Merrill Lynch.

The survey showed that 80% of Singapore CFOs cite U.S. interest rate movements as a key risk in the year ahead. This is twice the regional average of 40 percent.

To mitigate the risk, 87% of Singapore CFOs, the highest among those surveyed, are adopting a more defensive stance by opting to utilize surplus cash to increase their cash reserves. This compares to a regional average of 72%.

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