Singapore's central bank eased monetary policy for the first time in three ...
SINGAPORE - Singapore’s central bank eased monetary policy for the first time in three years on Monday, as widely expected, with the city-state’s bellwether economy narrowly dodging recession.
The Monetary Authority of Singapore manages policy through exchange rate settings, rather than through interest rates as other central banks do, letting the Singapore dollar rise or fall against the currencies of its main trading partners within an undisclosed policy band. Singapore’s economy grew less than expected in the third quarter but avoided slipping into a technical recession, flash data showed on Monday.
Manufacturing has been hit particularly hard, buffeted by the trade tensions and a cyclical downturn in the electronics sector.
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