Monetary Authority of Singapore:
- The Singapore economy is expected to strengthen over the rest of 2024
- MAS will therefore maintain the prevailing rate of appreciation of the S$neer policy band. There will be no change to its width and the level at which it is centred
- The sequential pace of price change is expected to be lower in the second half of 2024 compared to H1
- Both upside and downside risks to the outlook in 2024 remain
- Core inflation should fall further to around 2% in 2025
- CPI-all items inflation is now projected to average 2.0-3.0% this year
- Core inflation should step down more discernibly in Q4
- Core inflation should step down more discernibly in Q4, and fall further to around 2% in 2025
- MAS core inflation is expected to step down more discernibly in Q4 this year and into 2025 Q1
- Prevailing rate of appreciation of the policy band will keep a restraining effect on imported inflation
- GDP growth is likely to come in closer to its potential rate of 2-3% for the full year
- Current monetary policy settings remain appropriate
- For 2024 MAS core inflation is expected to average 2.5-3.5%.
- Singapore economy is expected to strengthen over the rest of 2024
SGD not a lot changed:
