DBS cuts Singapore's 2020 growth forecast to 0.9% due to virus impact

SINGAPORE: Singapore's biggest bank DBS on Friday downgraded its forecast for the city-state's 2020 growth rate to 0.9% from 1.4% previously, citing an expected economic hit from the new coronavirus epidemic which has spread to the city-state.

Singapore's government has said it expects its economy to be dented this year, although it has not yet revised its official forecast range of 0.5-2.5%, while its central bank this week said its currency has room to weaken with the economy.