Monday, October 17, 2016

MAS Holds Out On Easing Despite Sharp Downturn In 3Q GDP

Economic Research
17 October 2016
Singapore

Economic Highlights




At its advance reading, Singapore’s 3Q GDP plunged 4.1% on a q-o-q seasonally-adjusted annualised basis, retreating from a 0.2% gain in the previous quarter.

Despite the steep deterioration in economic growth, the Monetary Authority of Singapore (MAS) made no adjustments to the SGD nominal effective exchange rate (S$NEER).

We lower our forecast and now expect GDP to grow 1.4% and 1.2% in 2016 and 2017 respectively, from +1.8% and +1.4% earlier.

Further, we feel it is warranted for MAS to ease its S$NEERslope at its next meeting in April 2017.

Economist:  Ng Kee Chou | +603 92802179


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19 September  2016: Not A Clean Bill Of Health




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