The macroeconomic environment has been subdued amid a soft
global environment. The outlook for the domestic economy is unlikely to
be significantly different in the next six-to-12 months. The SGD NEER has
not weakened significantly and there remains room for weakness within the
band. A re-centering move by the MAS risk a spike in short-term rates
that could undermine already skittish household and business confidence
further and hence the economy...
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