Singaporeans racking up more credit card debt

Credit card bills increased by 16.6% mom to $2.6b, according to OCBC. On the other hand, bad debts fell to 10.6% mom to $14.3m. Monetary aggregates accelerated to 17.9% yoy(M1) and 10.0% (M2) respectively in Oct, up from 17.1% and 8.2% in September.

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