Cover IMF Staff Country Reports
Singapore: 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2008: Issue 100
Language:
English
Publication Date:
14 Mar 2008
DOI:
https://doi.org/10.5089/9781451834260.002
ISBN:
9781451834260
ISSN:
1934-7685
Pages:
33
Keywords:
ISCR; CR; surplus; Singapore economy well; Singapore dollar; inflation expectation; resilience to shock; monetary policy stance; exchange-rate-based monetary policy framework; Current account surpluses; Income; Real effective exchange rates; Current account balance; Nominal effective exchange rate; Global
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Singapore’s recent economic performance has been impressive, underpinned by prudent macroeconomic management. Economic activity remains strong despite a softening in external demand. On the demand side, domestic demand strengthened driven by private consumption and investment while net exports were broadly unchanged during the first half of 2007. It has been noted that the exchange-rate-based monetary policy framework has served Singapore’s small, open economy well. As inflation expectations are well anchored, they agreed that the present monetary policy stance of targeting a gradual nominal effective exchange rate appreciation remains appropriate.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2008: Issue 100