Singapore's GDP Contracts, Central Bank Maintains Policy Stance - Bloomberg

Singapore Forgoes Currency Stimulus on Inflation Risk: Economy

bloomberg.com 12 Oct '12, 12am

Singapore's GDP Contracts, Central Bank Maintains Policy Stance - Bloomberg

You need to enable Javascript to play media on Bloomberg.com Play Singapore Refrains From Easing as Economy Shrinks Singapore unexpectedly refrained from monetary stimulus, spurring gains in the region’s best- performing currency as inflation risks trump worries over a shrinking economy. 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 today. The median estimate of 16 economists in a Bloomberg News survey was for a 1.6 percent decline. The central bank , which uses the currency to manage inflation, said it will maintain a modest and gradual appreciation of the local dollar. Singapore joins Asian nations from China to India in limiting monetary stimulus as they guard against price risks even as fiscal austerity in the euro area weighs on the ...

Full article: http://www.bloomberg.com/news/2012-10-12/singapore-s-gdp-...

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