Australia central bank warns of sharp slowdown of economy as inflation soars

SYDNEY (REUTERS) – Australia’s central bank on Friday (Aug 5) warned that inflation was heading to three-decade highs, requiring further hikes in interest rates that would slow growth sharply and making it tough to keep the economy on an “even keel”. In its quarterly statement on monetary policy, the Reserve Bank of Australia (RBA) jacked up its forecasts […]

Singapore inflation yet to peak with more MAS tightening expected

SINGAPORE – Singapore’s inflation may have reached 13-year highs, but we are nowhere near the peak. Analysts reckon that given the uncertainties on the geopolitical front such as the war in Ukraine, continuing supply chain issues, tight labour market and the lockdowns in China, prices for goods and services here will continue to trend up through […]

MAS posts $7.4b annual loss, weighed down by stronger Singdollar amid soaring inflation

SINGAPORE – Singapore’s financial sector went from strength to strength, buoyed by broad-based growth but inflationary pressures, wobbly global growth and global tightening monetary policies have weighed on the central bank’s fiscal performance. The Monetary Authority of Singapore (MAS) on Tuesday (July 19) announced at its annual review that it clocked a net loss of […]

MAS posts $7.4 billion annual loss, weighed by stronger Singdollar amid soaring inflation

SINGAPORE – Singapore’s financial sector went from strength to strength, buoyed by broad-based growth but inflationary pressures, wobbly global growth and global tightening monetary policies have weighed on the central bank’s fiscal performance. The Monetary Authority of Singapore (MAS) on Tuesday (July 19) announced at its annual review that it clocked a net loss of […]

Inflation may ease next year, but that outlook is still uncertain, MAS says in annual report

SINGAPORE – Singapore’s central bank believes inflation may abate next year, but warned that if prices and wages continue to remain elevated a deeper cut in economic growth could be needed to achieve stability. “Inflation is expected to ease in 2023 as major central banks withdraw policy accommodation and supply challenges are addressed. However, the […]