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