SINGAPORE The Monetary Authority of Singapore, the city-state's central bank and financial regulator, will get a new chief for the first time in over a…
SINGAPORE The Monetary Authority of Singapore, the city-state's central bank and financial regulator, will get a new chief for the first time in over a…
Singapore's central bank warned on Wednesday of weak near-term growth for one of Asia's top financial hubs and said its fight against rising prices was not yet over, even as it lowered its 2023 headline inflation forecast.In an annual review by the Monetary Authority of Singapore (MAS), Managing Director Ravi Menon said Singapore's inflation would ease significantly thanks to a tight monetary policy stance, but the central bank would "not switch from inflation-fighting mode to growth-supporting mode". Headline inflation slowed to 4.7% in May compared to the 5.4% recorded in the first quarter. MAS now forecasts 2023 headline inflation at 4.5% to 5.5%, lower than the 5.5% to 6.5% seen previously, Menon told reporters.