Singapore Refrains From Easing as Economy Shrinks

Singapore’s central bank unexpectedly refrained from easing monetary policy even as the economy contracted last quarter, saying inflation will remain elevated for some time. The island’s dollar climbed. Gross domestic product fell an annualized 1.5 percent in the three months through September from the previous quarter, when it expanded a revised 0.2 percent, the Trade Ministry said in a statement today. The median estimate of 16 economists in a Bloomberg News survey was for a 1.6 percent contraction. The central bank, which uses the currency to manage inflation, said it will maintain a modest and gradual appreciation of the dollar.

The World Is Not Levered to the New China: UBS
58:34 - Bhanu Baweja, global head of emerging market cross asset strategy at UBS, discusses the 25th anniversary of the Shanghai Stock Exchange and the outlook for China's economy and emerging markets. He speaks to Bloomberg's Anna Edwards and Guy Johnson on "Countdown." (Source: Bloomberg)
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