SINGAPORE — A recent survey by the Monetary Authority of Singapore (MAS) indicates that most economists expect the nation’s monetary policy to remain
SINGAPORE — A recent survey by the Monetary Authority of Singapore (MAS) indicates that most economists expect the nation’s monetary policy to remain unchanged at its July and October reviews. Core inflation is anticipated to remain steady at around 3% for 2024, with annual core inflation registering 3.1% in both March and April.
The survey, conducted in late May with responses from 20 economists, projects a 2.4% growth rate for Singapore’s economy this year, matching previous estimates. First-quarter GDP results showed a 2.7% year-on-year growth, slightly exceeding earlier expectations of 2.6%, marking the fastest growth Singapore has seen in 18 months.
The Ministry of Trade and MAS have noted that core inflation is expected to gradually ease, with a more noticeable decline forecasted for the fourth quarter. Core and headline inflation rates are both expected to average between 2.5% and 3.5% this year, consistent with MAS’s decision to maintain its current policy settings in April.
The next policy review is set for July, with economists predicting a steady approach as Singapore navigates stable growth and inflation rates.
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