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Singapore central bank chief says policy stimulus may not be necessary

Bloomberg
Bloomberg3/1/2019 02:58 PM GMT+08  • 4 min read
Singapore central bank chief says policy stimulus may not be necessary
SINGAPORE (Mar 4): Singapore’s monetary policy stance remains appropriate for current conditions and there is no need for policy stimulus if the economy performs as expected, central bank managing director Ravi Menon said.
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SINGAPORE (Mar 4): Singapore’s monetary policy stance remains appropriate for current conditions and there is no need for policy stimulus if the economy performs as expected, central bank managing director Ravi Menon said.

Growth will probably come in at the midpoint of the 1.5% to 3.5% forecast range for this year, or slightly lower, bringing “the economy back to its potential,” Menon said at an event hosted by Citigroup in Singapore on Feb 27. “There’s no need for stimulus if this continues this way.”

While the central bank’s stance is “appropriate”, given the current growth and inflation dynamics, “what we do in April is a totally different matter”, he said. “Two months is a long time, so we’ll see how it looks like then.”

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