Why sgd rise

Analysts polled by Reuters had expected the Singapore economy to grow 6. On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 0.

Singapore's economy could pick up further in the coming quarters as the government eases Covid restrictions and opens up for international travel , said Song. Alex Holmes, Asia economist at Capital Economics, said he expects the Singapore central bank to leave monetary policy on hold in Holmes said in a Thursday note that Covid-related economic weakness is still evident in Singapore.

He noted that wholesale, retail and transport sector shrank 1. Skip Navigation. Replay of debt ceiling drama in Washington may spook markets, hurt economic recovery. Sep 10, , pm. Singdollar recovers from recent dip, but outlook still weak. Jul 31, , am. Singapore dollar's haven appeal rises in region ravaged by Covid Singapore Manufacturing Falls More than Expected. Singapore Unexpectedly Tightens Monetary Policy. Australia Inflation Expectations Remain High at 4.

Nikkei Climbs as Investors Shrug Off Australian Shares Rise on Mining Boos Brazilian Equities Climb as Political Canadian Stocks Rebound to Near Recor Brazilian Real Hovers at Over 1-Month Calendar Forecast Indicators News. More Indicators. MAS said: "Growth in the Singapore economy is likely to remain above trend in the quarters ahead.

Barring a resurgence of the Covid virus globally or a setback in the pace of economic reopening, output should return to around its potential in The Singapore dollar remaining firm means that for those looking to travel, the exchange rates may be in their favour against other currencies, CIMB Private Banking economist Song Seng Wun explained. For the local consumer, the stronger Singapore dollar also means that inflation may not be as high as it could be. He noted that material costs have gone up, which means that laptops, tablets and even washing machines can become more expensive.

The tightening of monetary policy helps to offset some of these rising costs for local consumers. MAS expects core inflation this year to come in near the upper end of its zero per cent to 1 per cent forecast range, and is expected to increase further to 1 per cent to 2 per cent next year.

Overall inflation will come in at around 2 per cent this year, at the top end of MAS' forecast range, and average 1. It is allowed to float within an unspecified band. If it goes out of this band, MAS steps in by buying or selling Singapore dollars. MAS thus changes its monetary policy by adjusting the slope, width and midpoint of this band based on assessed risks to the country's growth and inflation. In an earlier poll by Bloomberg, economists had tipped MAS to signal a potential tightening of monetary policy next year, while holding steady for now.