Slight fall in interest rate on money market fund

Generally, rates have come down some 0.1 to 0.2% for tenure up to 12 months. This would mean slightly lower return expected on our FlexiCash in the near future.

Despite the decline in rates, we should still be offering attractive returns to clients compared to savings rates offered by banks.

Globally, interest rates could be taking a pause in further hike, moving up higher only if the US Fed resumes rate hike on fear of inflation.