{"id":23781,"date":"2023-04-26T07:35:09","date_gmt":"2023-04-26T07:35:09","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/singapores-economic-outlook-uncertain\/"},"modified":"2023-04-26T07:38:33","modified_gmt":"2023-04-26T07:38:33","slug":"singapore-central-bank-sees","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/singapore-central-bank-sees\/","title":{"rendered":"Singapore central bank sees rents, inflation easing amid uncertain growth outlook"},"content":{"rendered":"<p>By Chen Lin<\/p>\n<p>SINGAPORE (Reuters) -Singapore&#8217;s growth outlook in 2023 appears uncertain amid global headwinds, the central bank said on Wednesday, but price pressures may ease as rents, a key component of inflation in the city-state, moderate in coming quarters.<\/p>\n<p>The Monetary Authority of Singapore (MAS) said in a semi-annual report the economy is expected to grow between 0.5% and 2.5%, less than last year&#8217;s 3.6%, hit by contractions in trade-related sectors amid a global downturn in manufacturing.<\/p>\n<p>But a key driver of inflation, the pace of residential rent increases, may moderate in the second half of the year as housing supply picks up after the pandemic, it added.    <\/p>\n<p>&#8220;In the quarters ahead, headline and core inflation in Singapore are expected to moderate further,&#8221; the MAS said, adding that headline inflation, which includes accommodation costs, would come in between 5.5% and 6.5% for 2023.<\/p>\n<p>The moderation in rents will take time to pass through to inflation data, it said.<\/p>\n<p>Already ranked among the most expensive cities in the world, Singapore has seen living costs climb to multi-year highs, sparking questions over its attractiveness as a global business hub. <\/p>\n<p>Public and private residential rents have risen sharply since 2021 by 38% and 43%, respectively, government data show, mainly because of coronavirus-related disruptions in construction. <\/p>\n<p>Earlier this month, the MAS kept its monetary policy unchanged after five successive rounds of tightening since October 2021, including two surprise moves in 2022.<\/p>\n<p>&#8220;The prevailing monetary policy stance is sufficiently tight and appropriate for securing medium-term price stability,&#8221; it said in the report.<\/p>\n<p> (Reporting by Chen Lin; Editing by Kanupriya Kapoor and Clarence Fernandez)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/singapore-central-bank-sees\/a-container-ship-arrives-in-a-port-in-singapore\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3P044-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3P044-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chen Lin SINGAPORE (Reuters) -Singapore&#8217;s growth outlook in 2023 appears uncertain amid global headwinds, the central bank said on Wednesday, but price pressures may ease as rents, a key component of inflation in the city-state, moderate in coming quarters. The Monetary Authority of Singapore (MAS) said in a semi-annual report the economy is expected [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":23782,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-23781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3P044-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=23781"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23781\/revisions"}],"predecessor-version":[{"id":24026,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23781\/revisions\/24026"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/23782"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=23781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=23781"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=23781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}