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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Bank Lending climbed to 978.8B in September 2026
FMPMonthlyReleased October 2026
Singapore Bank Lending climbed to 978.8B in September 2026, released October 2026, up 12.4B from August's 966.4B reading. The print exceeded the 909.5B consensus by 69.3B. Bank Lending has now risen for 13 consecutive months. Over the past 3 months, Bank Lending averaged 952.75B, vs 919.9B in the prior 3-month window. Bank Lending is now the highest in 38 months.
Latest Release
978.8
Actual
909.5
Consensus
966.4
Previous
Median Absolute Error
±12.65 billion
across last 12 releases
Last Call
Oct 2026
Predicted: 912.13
Actual: 978.8
Error: -66.67
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 | +0.56 | INDEX | Moves with | → View |
| Hang Seng | ▼ Inverse | −0.53 | INDEX | Moves against | → 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 978.80 billion in October 2026. This beat the market consensus of 909.50 billion by 69.30 billion. The reading rose from the previous value of 966.40 billion. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 908.57 billion, ranging from 863.80 billion to 978.80 billion across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 961.43 billion, up from the prior three at 911.13 billion. Volatility over the past year (σ 38.10 billion) is higher than the prior year (σ 13.18 billion). In October readings over the past 3 years, Bank Lending has averaged 859.78 billion.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Nikkei 225 (Bullish Nikkei 225). A secondary relationship exists with Hang Seng, negatively correlated (Bearish Hang Seng). Over the last 12 releases, the Sigmacast model's median absolute error is 12.65 billion.
WHAT TO WATCH NEXT
The next release is scheduled for November 27, 2026.
Auto-generated from current model state · Refreshes on each release · Last update October 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 (Sep 2026): actual 978.8 B, consensus 909.5 B. Prior reading (Aug 2026): 966.4 B. Before that (Jul 2026): 939.1 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=0.56) — a useful reference for index-focused traders.
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EXPECTED ZONE
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Economic Calendar - SG Events
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | SG | Bank Lending | 978.8 | 966.4 | 909.5 | 944.15 | Low |
| 02:30 | SG | Unemployment Rate | 2 | 1.9 | 2 | 2.00 | Low |
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 05:00 | SG | Business Confidence | 12 | 14 | 14.00 | Low | |
| 13:00 | SG | S&P Global Manufacturing PMI | 51.7 | 51.8 | 51.80 | Low | |