Singapore: MAS does not see rising rates leading to rising foreclosures

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Singapore's financial regulator, the Monetary Authority of Singapore, has responded to a Parliamentary Question by stating it does not expect widespread foreclosures in the jurisdiction in response to rising interest rates. The response came to a question put by Alex Yam Ziming, MP. The answer was provided by Alvin Tan, minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and board member of MAS, on behalf of Tharman Shanmugaratnam, senior minister and minister in charge of MAS. The question read: "To ask the Prime Minister (a) what proportio...