Singapore’s Central Bank said its monetary easings this year were sufficient to reduce downside risks to economic growth, and expects inflation to pick up on the diminishing effects of lower oil prices, Yahoo reported. The trade-dependent economy is being pressured by sluggish global growth, but expectations of more aggressive stimulus at the Oct 14 policy meeting were “unwarranted,” the Monetary Authority of Singapore said in its half-yearly macroeconomic review released on Tuesday. “An even stronger policy easing in the most recent October review, including flattening the slope of the Singapore dollar policy band, was clearly unwarranted,” the central bank said. “The Singapore economy was neither experiencing an outright retraction in economic activity nor widespread price declines.” At the October review, MAS eased policy for the second time this year by slightly reducing the rate of the Singapore dollar’s appreciation. Economic growth in Singapore and elsewhere in Asia has slackened off sharply as regional locomotive China cools and as factories struggle due to weak demand.
