Downtrend: A container vessel docking at the West Coast container port in Singapore. A plunge in exports and the worst growth rates for a decade have fuelled concerns about the outlook for Singapore’s economy, with analysts saying the figures offer a warning that Asia is heading for a slowdown as US-China tensions bite. — AFP
SINGAPORE: Singapore’s central bank will probably ease monetary policy for the first time in more than three years as a global slowdown continues to weigh on the export-reliant economy.
A majority of the economists surveyed by Bloomberg predict the Monetary Authority of Singapore (MAS) will reduce the slope of its currency band by 50 basis points on Monday, implying a more gradual pace of appreciation in the local dollar. The MAS uses the exchange rate, rather than interest rates as its main policy tool.
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