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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
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2008: Issue 280
Language:
English
Publication Date:
13 Aug 2008
DOI:
https://doi.org/10.5089/9781451834277.002
ISBN:
9781451834277
ISSN:
1934-7685
Pages:
39
Keywords:
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund