The survey was conducted before the US Federal Reserve (US Fed) raised its benchmark interest rates by 75 basis points on Sept 22. It was also conducted before the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) revealed that Singapore’s core and headline inflation increased by 5.1% y-o-y and 7.5% y-o-y respectively in the month of August.
Almost 9 in 10 Singaporeans, or 89.8%, agree that investing is one of the best ways to protect their wealth, according to a survey by Moomoo Financial Singapore, which is part of the NASDAQ-listed Futu Holdings.
The survey, which polled 1,444 Singaporeans from Sept 15 to 22, was done to gauge the impact of inflation on financial decisions.
