MAS policy stance unchanged despite falling growth
Singaporean government cuts growth forecasts as analysts predict October rate cut
Singapore’s central bank has said it will not consider changing its monetary policy stance despite the government sharply cutting its GDP growth forecast.
The country’s Ministry of Trade and Industry announced it was lowering its GDP growth forecast for 2019 to a range of 0% to 1%. It had previously forecast GDP growth of 1.5% to 2.5%.
On a quarter-on-quarter, seasonally adjusted and annualised basis, the Singapore economy contracted by 3.3%, a reversal from the 3.8% growth in the first
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