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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Bank Lending climbed to 931.4B in June 2026
FMPMonthlyReleased July 2026
Singapore Bank Lending climbed to 931.4B in June 2026, released July 2026, up 13.7B from May's 917.7B reading. The print exceeded the 884.1B consensus by 47.3B. Bank Lending has now risen for 10 consecutive months. Bank Lending is now the highest in 37 months.
Latest Release
931.4
Actual
884.1
Consensus
917.7
Previous
Median Absolute Error
±11.92 billion
across last 12 releases
Last Call
Jul 2026
Predicted: 887.8
Actual: 931.4
Error: -43.6
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Nikkei 225 | ▲ Direct | +0.60 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.53 | COMMODITIES | Moves against | → View |
| Hang Seng | ▼ Inverse | −0.52 | INDEX | Moves against | → View |
| BTC/USD | ▲ Direct | +0.39 | CRYPTO | Moves with | → View |
| USD/SGD | ▲ Direct | +0.33 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Bank Lending (Singapore) was reported at 931.40 billion in July 2026. This beat the market consensus of 884.10 billion by 47.30 billion. The reading rose from the previous value of 917.70 billion. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 881.57 billion, ranging from 851.70 billion to 931.40 billion across 10 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 911.13 billion, up from the prior three at 882.23 billion. Volatility over the past year (σ 23.84 billion) is higher than the prior year (σ 18.14 billion). In July readings over the past 3 years, Bank Lending has averaged 846.25 billion.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Nikkei 225 (Bullish Nikkei 225). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 11.93 billion.
WHAT TO WATCH NEXT
The next release is scheduled for August 28, 2026.
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Bank Lending - SG
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About Bank Lending — Singapore
DEFINITION
Rate The Bank Lending Rate is a key financial indicator that measures the interest rate at which commercial banks lend money to their customers. This rate is influenced by various economic factors and is used as a benchmark for determining the cost of borrowing for businesses and individuals. It is an important tool for analyzing the health of the banking sector and the overall state of the economy. Changes in the Bank Lending Rate can have significant impacts on consumer spending, investment, and economic growth.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 931.4 B, consensus 884.1 B. Prior reading (Apr 2026): 908.4 B. Before that (Mar 2026): 902.3 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with Nikkei 225 (Bullish Nikkei 225, r=0.60) — a useful reference for index-focused traders.
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Economic Calendar - SG Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | SG | Bank Lending | 931.4 | 917.7 | 884.1 | 907.75 | Low |
| 02:30 | SG | Unemployment Rate | 2 | 2 | 2.1 | 2.05 | Low |
| 05:00 | SG | Business Confidence | 12 | 17 | 5 | 8.50 | Low |
| Monday, August 3, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 13:00 | SG | SIPMM Manufacturing PMI | 51.3 | 51.5 | 51.50 | Low | |