SINGAPORE (Reuters) – Singapore’s central bank on Wednesday said the city-state faces an uncertain economic outlook with downside risks as the global economy slows.
The economy has slowed discernibly since the last quarter of 2022, weighed down by contractions in trade-related sectors amid the global manufacturing downturn, the Monetary Authority of Singapore (MAS) said in a semi-annual report.
Core inflation has peaked and will end the year significantly lower, it said, adding that it expects core inflation to average between 3.5% and 4.5% in 2023.
The MAS is expecting global growth and inflation to slow, reflecting the effects of substantial monetary policy tightening.
(Reporting by Chen Lin, Editing by Kanupriya Kapoor)
