(Bloomberg) -- Singapore’s monetary policy “remains appropriately tight,” according to the city state’s central bank chief Ravi Menon who signaled that...
-- Singapore’s monetary policy “remains appropriately tight,” according to the city state’s central bank chief Ravi Menon who signaled that authorities aren’t necessarily under pressure to do more even as regional peers turn hawkish.Canada Plans College Crackdown Amid Foreign Student Troubles
“That’s the beauty of the trade-weighted exchange rate,” the MAS managing director said in an Oct. 27 interview when asked whether he sees the need for Singapore to tighten policy further. “It’s regardless of how other countries’ exchange rates move.” Menon, who is stepping down as MAS chief after 12 years and retiring from public service on Dec. 31, stressed that the more frequent policy announcement doesn’t mean more frequent tweaks. The central bank, which made two unscheduled moves in 2022, is still keeping to its medium-term orientation, he said.Markets understand that sometimes central banks have to adjust policy out of cycle, Menon said. But if it happens too frequently then it creates “apprehension,” he added.
“Nobody saw this coming,” he said. “In forecasting, you will never get it right all the time.” Generally, central banks have also done a decent job of managing price pressures and economic growth, he added. “At least now, we can imagine a pathway to lower inflation without necessarily having a recession,” he said, which authorities were less sure about a year ago.X, One Year Later: How Elon Musk Made a Mess of Twitter’s BusinessCIBC and TD Bank are intriguing bank stocks that are worth owning on the way down. The post Best Bank for Your Buck: 2 Canadian Bank Stocks I’m So Close to Buying appeared first on The Motley Fool Canada.
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