Economics
Singapore’s Central Bank Chief Sees Slow Economic Recovery
- Economy’s slump concentrated in trade, manufacturing sectors
- Central bank chief says there’s policy space to act if needed
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Singapore’s economy may be a few quarters away from a recovery as the decline in trade and manufacturing this year hasn’t really spread to other sectors, the central bank’s chief said.
The Monetary Authority of Singapore’s baseline view is that “the current cycle should be bottoming out toward the end of the year and into next year,” Managing Director Ravi Menon said in an interview. That’s based on the assumption that the slump will be largely contained in the trade and manufacturing industries, he said.