The Monetary Authority of Singapore (MAS) has reported a net loss of $7.4 billion in the financial year ended March 31, 2022. Additionally, Singapore’s official foreign reserves also recorded a net loss of $4.7 billion. What could have caused the substantial loss and performance of Singapore’s central bank? Should we be worried about this? We examine the contributing factors, as...
, which makes it all the more necessary for MAS to employ these fiscal and monetary measures to curb this persistent and drastic inflation.
What is the Consolidated Fund? It is just like a bank account held by the Singapore Government, of which revenues are channelled towards and out of which Government expenditures are spent. Since inflation cannot be avoided completely, prices will surely increase and hence, real incomes may fall as purchasing power falls. The economic growth in Singapore may be slowed and dampened in the short to medium term.Although Singapore’s economy is forecasted to experience slowing growth, Singapore banks have maintained healthy investments and asset quality, allowing them to survive price and asset shocks.
There are so many different types of credit cards which can help you gain rewards in your everyday spending. Some types of credit cards include miles, cashback, rebates and rewards cards. You can feel free to pick and choose the most suitable type of card for your spending. Keeping your money in savings accounts with a low interest rate would mean that you’re ‘losing’ money, when we adjust for inflation.
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