Singapore: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Singapore

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 280

Publication date: August 2008

ISBN: 9781451834277

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , ISCR , CR , price , fund , cost , inflation risk , inflation expectation , inflation pressure , price pressure , inflation dynamics , Singapore-dollar proceeds , Singapore economy , Inflation , Current account balance , Exchange rates , Foreign assets , Current account , Global

Also of interest

Grenada

Nepal

Peru

Republic of Congo : 2001 Article IV

Summary

This 2008 Article IV Consultation highlights that spillovers from the global slowdown and lingering turbulence in international financial markets have been propagated to Singapore mostly through the trade channel. Inflation has risen significantly on the back of international and home-grown cost pressures. Increases in food and energy prices have added to pressures from a hike in indirect takes, a housing boom, and tighter labor markets. Executive Directors have welcomed the recent steps by the Monetary Authority of Singapore to tighten the monetary policy stance further by adjusting the exchange rate target band.