Rising oil prices and changing expectations for global interest rates have raised fresh doubts about whether borrowing will continue getting cheaper. Even if the immediate geopolitical shock passes, could heavier government borrowing, AI investment and a more volatile global economy keep borrowing costs higher for longer?

On Viewpoint, Lynlee Foo speaks with Vishnu Varathan, head of macro strategy for APAC (ex Japan) at Mizuho Bank, about what this means for home loans and businesses in Singapore, how much protection a stronger Singapore dollar provides, and what borrowers should consider when making long-term financial decisions.