(Oct 15): Singapore offers a small ray of light in a faltering global economy.
The country that's so intimately tied to the rhythms of global commerce dodged a recession in the third quarter, figures Monday showed. Singapore simultaneously eased monetary policy, the first such step since 2016, as anticipated. That it did so cautiously suggests at least some of the doom and gloom about the trajectory of world growth might be overdone.
Sure, monetary officials would prefer a brighter economic picture; but in a world awash with warnings about global recession and angst about central banks running low on ammunition, Singapore's reading of the economic terrain could be a relative balm.
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