Ravi Menon is managing director of the Monetary Authority of Singapore.
Bloomberg (gated) report on a speech he gave saying the global economy faces not one but four key uncertainties including a downturn next year:
- the severity of the downturn,
- inflation’s trajectory in the medium term,
- the impact of geopolitics on markets,
- and climate risk on portfolios
as the main risks to the global outlook.
Said the key question is how deep and prolonged will the downturn be. And added that
- Medium-term inflation is likely to be higher for longer, rather than recent benign price gains,
- that the era of cheap money and cheap labor are most likely over
