Monetary Authority of Singapore managing director Ravi Menon
- says GDP growth could exceed the upper end of the official 4 to 6% forecast range, barring setback to global economy
- resident unemployment rate should continue to gradually decline
- keeps 2021 core inflation forecast unchanged at 0 to 1%
- says cpi-all items inflation forecast revised to 1.0 to 2.0% from 0.5 to 1.5%
- says early concerns that defaults among weaker corporates could strain banks' profitability and capital positions have not materialised
- conducting additional stress tests to assess if necessary to extend current dividend restrictions on local banks, finance companies
- property market has been remarkably resilient in face of last year's recession, continued uncertainty this year
- authorities remain highly vigilant to sustained increase in home prices
- says monetary policy stance remains appropriate for now
- goal is to make sure property market does not get ahead of economic fundamentals
- says "big concern" that liquidity has gone into financial asset markets, real estate markets globally
- maintains stance that retail investors should stay away from cryptoassets, cryptocurrencies
- says asset management industry growing due to broader trends, has not seen significant shifts due to situation in Hong Kong
His crypto comment not helping the BTC price, circa 35200 USD as I update.
