“The reason for this is simple: While the wealth is managed here, most of it is invested outside Singapore… Singapore is just an intermediary for these flows,” he said.
SINGAPORE: Mr Ravi Menon, the Managing Director of the Monetary Authority of Singapore , said on Wednesday that Singapore’s battle against inflation is not yet over, even if headline inflation has gone down from 5.4 per cent in the first quarter to 4.7 per cent in May.
The reason for this is simple: While the wealth is managed here, most of it is invested outside Singapore… Singapore is just an intermediary for these flows,”Additionally, because of the country’s tight monetary stand, he expects inflation to ease by the end of the year, although MAS is yet to “switch from inflation-fighting mode to growth-supporting mode.”
“We are closely monitoring the evolving growth-inflation dynamics and remain vigilant to risks on either side,” he said, with MAS prepared to adjust monetary policy, mainly if inflation accelerates again.
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