Arab Today, arab today singapore\s central bank to maintain its monetary policy amid expansion expectations
Last Updated : GMT 02:32:13
Arab Today, arab today
Arab Today, arab today

Singapore\'s central bank to maintain its monetary policy amid expansion expectations

Arab Today, arab today

Arab Today, arab today Singapore\'s central bank to maintain its monetary policy amid expansion expectations

Singapore - XINHUA

Singapore\'s central bank, the Monetary Authority of Singapore (MAS), said on Monday that it will maintain its policy of a modest and gradual appreciation of the Singapore dollar as it expected the city-state\'s economy to \" expand for the rest of 2013 and into 2014.\" A separate statement of the advance estimates of Singapore\'s the third quarter (Q3) economy performance released on Monday by Minidtry of Trade and Industry showed that the city-state\'s GDP contracted by 1.0 percent in Q3 on a quarter-on-quarter seasonally adjusted annualized basis, following the 16.9 percent surge in previous quarter. But on year-on-year basis, Singapore\'s economy expanded by 5.1 percent in the Q3, compared to 4.2 percent in Q2. The advance estimate was higher than the market economists\' median forecast of 3.8 percent growth. The MAS said \"the Singapore economy should continue to expand for the rest of 2013 and into 2014, although some volatility in growth rates is likely. There are short term uncertainties in the external environment, and MAS is closely monitoring economic and financial developments.\" It added that \"barring a significant deterioration in global demand conditions, the labor market will remain tight, and exert further upward pressures on MAS core inflation as firms pass on accumulated costs to consumer prices.\" Supported by transport engineering and electronics clusters, the manufacturing sector grew by 4.5 percent on year in Q3, higher than 1.3 percent growth in Q2. But on quarter-on-quarter basis, the sector contracted at an annualized rate of 3.4 percent, a reversal from the 33.5 percent expansion in the preceding quarter. The construction sector expanded 3.6 percent on year, moderating from 6.9 percent growth in Q2, mainly due to weaker public sector construction activities. The sector contracted 8.8 percent on quarter, a sharp contrast from the 20.9 percent growth in the previous quarter. The services producing industries grew 5.7 percent on year, similar to the 5.6 percent growth in the preceding quarter. The sector grew 1.0 percent on quarter, moderating from the 12.3 percent expansion in Q2. The MAS said \"the financial services sector shrank as equity and foreign exchange market activities fell on concerns over a reduction in the pace of asset purchases by the Fed and the threat of military intervention in Syria.\" The MAS also expects the headline inflation for 2013 at the upper half of the 2-3 percent forecast range. Its core inflation, which excludes private road transport and accommodation costs, is expected to be between 1.5-2 percent in 2013, and rise to 2-3 percent in 2014.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore\s central bank to maintain its monetary policy amid expansion expectations Arab Today, arab today singapore\s central bank to maintain its monetary policy amid expansion expectations

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore\s central bank to maintain its monetary policy amid expansion expectations Arab Today, arab today singapore\s central bank to maintain its monetary policy amid expansion expectations

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday