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Tharman warns of new era of shortages driving global inflation

Bloomberg4/22/2022 4:56 PM GMT+08  • 2 min read
Tharman warns of new era of shortages driving global inflation
Tharman Shanmugaratnam at the Boao Forum for Asia event on Friday. Photo: Bloomberg
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The world is entering a macroeconomic era of medium-term supply shortfalls that will require new large investments, according to the chairman of Singapore’s central bank.

“We have to confront the fact that we are not just dealing with immediate shocks in demand or supply,” when it comes to inflation, Tharman Shanmugaratnam, chairman of the Monetary Authority of Singapore, said at a Boao Forum for Asia event on Friday. “But we are dealing with a fundamentally new macroeconomic environment globally.”

The recovery from the pandemic for many countries has hit a new challenge of surging inflation, driven by pent-up demand, higher commodities and stubborn supply chain snags.

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