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Singapore forgoes currency stimulus on inflation risk

Posted on 12 October 2012

Singapore unexpectedly refrained from monetary stimulus, spurring gains in the region’s best- performing currency as inflation risks trump worries over a shrinking economy. Gross domestic product fell an annualized 1.5 percent in the three months through September from the previous quarter, when it expanded a revised 0.2 percent, the Trade Ministry said.
The median estimate of 16 economists in a Bloomberg News survey was for a 1.6 percent decline. The central bank, which uses the currency to manage inflation, said it will maintain a modest and gradual appreciation of the local dollar………………………………………..Full Article: Source

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