In an interview with CNA, outgoing MAS chief Ravi Menon also explains why he does not foresee a global recession in 2024.
Mr Ravi Menon, managing director of the Monetary Authority of Singapore, in an interview with CNA ahead of the annual Singapore FinTech Festival from Nov 15 to 17.
“Core inflation is in a much better place than in the last two years but we’re not home yet. So, I think it would be premature to talk about relaxation or easing in monetary policy,” said Mr Menon., including two off-cycle moves in January and July 2022. This year, the central bank has opted to stand pat at both its monetary policy meetings.
“Growth has slowed down, but not as drastically as some of us thought might have been the case,” he said. “I’m less sure of this conflict, unless there's a widening of the conflict, in which case, there will be some of those spillovers,” said Mr Menon. “It's far too early to say.”
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