SINGAPORE: Singapore’s central bank will likely keep its tight monetary policy settings for a third straight review while retaining its sharp focus on still-elevated inflation.
Singapore Set to Hold Monetary Policy as Price Pressures Persist bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Singapore’s top central banker said the monetary authority is watching for signs of accelerating inflation and is ready to act, underscoring how policy makers globally are refocusing attention on rising prices after their extraordinary efforts to weather the pandemic.
(Feb 16): Singapore’s budget on Tuesday is expected to offer more targeted measures to support the economy’s recovery from its worst year since independence, setting up a third straight budget deficit for the traditionally fiscally conservative city-state.
While the the nation appears past the worst of the pandemic and its spending shortfall is narrowing, industries including food and beverage and those associated with travel remain crushed by mobility restrictions. Firms are also still grappling with restructuring staffs and supply chains.
“Certain sectors are still struggling with weak demand, high operating costs and manpower constraints and may require continued policy assistance,” Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp. in Singapore, said in a Feb. 5 report. “Some of these support measures are gradually reaching the end of their shelf life, but a premature full-scale withdrawal is also unlikely in order to forestall a ‘c