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fools_gold ( Date: 27-Oct-2010 14:51) Posted:
what a beating! and still no support at all |
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#### SELLING is due to this NEWS ####
FUNDS are afraid QE2 is blOcked ? ? ? ?
wIll QE2 be blOcked ? ? ? ?
BullishTempo ( Date: 27-Oct-2010 12:38) Posted:
The tone of this article tells us Singapore is more concern with inflation than with lack of capital for growth. We have enough liquidity to drive growth, and more capital inflows is going to cause asset bubbles and inflation. I won't be surprise if Singapore starts to implement policies to block capital inflow from QE2.
If that is the case, better be very very careful, and play only short-term. Playing long term in such a situation is highly risky
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| Singapore says Capital flows into Asian economies pose risks |
Tags: MAS | WRITTEN BY BLOOMBERG | | WEDNESDAY, 27 OCTOBER 2010 12:02 | Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said. “Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.” Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April. “The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.” OVERSEAS DEMAND Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks. “The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.” The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures. CURRENCY GAINS The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history. On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.” The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report. Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today. Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said. “Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report. |
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Gaecia ( Date: 27-Oct-2010 14:33) Posted:
| can someone post market depth? wats the support vol at 2.17? |
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pharoah88 ( Date: 27-Oct-2010 12:53) Posted:
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Wednesday: 27 10 2010 mId-nOOn
pharoah88 ( Date: 27-Oct-2010 10:43) Posted:
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Wednesday: 27 10 2010 mId-nOOn
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Wednesday: 27 10 2010 begin_of_the_skype_highlighting 27 10 2010 end_of_the_skype_highlighting
Ch 8 Good Morning Singapore 8:15am
CALL 62506851 / 62501210
DR LEONG [梁医生]
HAZE is poisonous
Vehicle Exhaust discharge is poisonous
Second-Hand Cigarette smoke is poisonous
Use salt water sprays [喷盐水] into the nose
to reduce the damaging effect
pharoah88 ( Date: 22-Oct-2010 14:48) Posted:
Friday: 22 OCTOBER 2010 mOrnIng
ChannelNewsAsia 8:20am
HAZE HAZARDS 108
Consultant DR K C ONG
Old and young suffer crItIcally
Chronic Respiratory problems
pOlUtant partIcles can gO intO lUngs and even the blOOd streams
nEEd SPECIAL KIND of MAST [nOt the usual clinical mast]
Airconditioner filter cannOt filter OUt the partIcles
END
Medical Cost Reimbursement and Health Damage Compensation should be sOUght by fOreIgn mInIsters Of affected cOUntrIes ? ? ? ?
hUman rIghts UnIOns shOUld dO sOmethIng sInce the fOreIgn mInIstrIes are nOt cOncern wIth cItIzens HEALTH ? ? ? ?
WHY HEALTH mInIstrIes are sO cOOperatIve ? ? ? ?
CEOs Of companIes settIng the fIres mUst be canned and jaIled ? ? ? ?
sUrely by nOw every aUthOrIty rIghtly knOw whO are the cUlprIts ? ? ? ?
WHY is there nO actIOn by the aUthOrItIes ? ? ? ?
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Wednesday: 27 10 2010 begin_of_the_skype_highlighting 27 10 2010 end_of_the_skype_highlighting
Ch 8 Good Morning Singapore 8:15am
CALL 62506851 / 62501210
DR LEONG [梁医生]
HAZE is poisonous
Vehicle Exhaust discharge is poisonous
Second-Hand Cigarette smoke is poisonous
Use salt water sprays [喷盐水] into the nose
to reduce the damaging effect
pharoah88 ( Date: 22-Oct-2010 14:39) Posted:
Friday: 22 OCTOBER 2010 mOrnIng
ChannelNewsAsia 8:20am
HAZE HAZARDS 108
Consultant DR K C ONG
Old and young suffer crItIcally
Chronic Respiratory problems
pOlUtant partIcles can gO intO lUngs and even the blOOd streams
nEEd SPECIAL KIND of MAST [nOt the usual clinical mast]
Airconditioner filter cannOt filter OUt the partIcles
END
Medical Cost Reimbursement and Health Damage Compensation should be sOUght by fOreIgn mInIsters Of affected cOUntrIes ? ? ? ?
hUman rIghts UnIOns shOUld dO sOmethIng sInce the fOreIgn mInIstrIes are nOt cOncern wIth cItIzens HEALTH ? ? ? ?
WHY HEALTH mInIstrIes are sO cOOperatIve ? ? ? ?
CEOs Of companIes settIng the fIres mUst be canned and jaIled ? ? ? ?
sUrely by nOw every aUthOrIty rIghtly knOw whO are the cUlprIts ? ? ? ?
WHY is there nO actIOn by the aUthOrItIes ? ? ? ?
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Wednesday: 27 10 2010 begin_of_the_skype_highlighting 27 10 2010 end_of_the_skype_highlighting
Ch 8 Good Morning Singapore 8:15am
CALL 62506851 / 62501210
DR LEONG [梁医生]
HAZE is poisonous
Vehicle Exhaust discharge is poisonous
Second-Hand Cigarette smoke is poisonous
Use salt water sprays [喷盐水] into the nose
to reduce the damaging effect
pharoah88 ( Date: 22-Oct-2010 14:50) Posted:
Friday: 22 OCTOBER 2010 mOrnIng
ChannelNewsAsia 8:20am
HAZE HAZARDS 108
Consultant DR K C ONG
Old and young suffer crItIcally
Chronic Respiratory problems
pOlUtant partIcles can gO intO lUngs and even the blOOd streams
nEEd SPECIAL KIND of MAST [nOt the usual clinical mast]
Airconditioner filter cannOt filter OUt the partIcles
END
Medical Cost Reimbursement and Health Damage Compensation should be sOUght by fOreIgn mInIsters Of affected cOUntrIes ? ? ? ?
hUman rIghts UnIOns shOUld dO sOmethIng sInce the fOreIgn mInIstrIes are nOt cOncern wIth cItIzens HEALTH ? ? ? ?
WHY HEALTH mInIstrIes are sO cOOperatIve ? ? ? ?
CEOs Of companIes settIng the fIres mUst be canned and jaIled ? ? ? ?
sUrely by nOw every aUthOrIty rIghtly knOw whO are the cUlprIts ? ? ? ?
WHY is there nO actIOn by the aUthOrItIes ? ? ? ? |
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Good Post
Bad Post
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x 0
x 0
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Wednesday: 27 10 2010
Ch 8 Good Morning Singapore 8:15am
CALL 62506851 / 62501210
DR LEONG [梁医生]
HAZE is poisonous
Vehicle Exhaust discharge is poisonous
Second-Hand Cigarette smoke is poisonous
Use salt water sprays [喷盐水] into the nose
to reduce the damaging effect
pharoah88 ( Date: 22-Oct-2010 14:51) Posted:
Friday: 22 OCTOBER 2010 mOrnIng
ChannelNewsAsia 8:20am
HAZE HAZARDS 108
Consultant DR K C ONG
Old and young suffer crItIcally
Chronic Respiratory problems
pOlUtant partIcles can gO intO lUngs and even the blOOd streams
nEEd SPECIAL KIND of MAST [nOt the usual clinical mast]
Airconditioner filter cannOt filter OUt the partIcles
END
Medical Cost Reimbursement and Health Damage Compensation should be sOUght by fOreIgn mInIsters Of affected cOUntrIes ? ? ? ?
hUman rIghts UnIOns shOUld dO sOmethIng sInce the fOreIgn mInIstrIes are nOt cOncern wIth cItIzens HEALTH ? ? ? ?
WHY HEALTH mInIstrIes are sO cOOperatIve ? ? ? ?
CEOs Of companIes settIng the fIres mUst be canned and jaIled ? ? ? ?
sUrely by nOw every aUthOrIty rIghtly knOw whO are the cUlprIts ? ? ? ?
WHY is there nO actIOn by the aUthOrItIes ? ? ? ? |
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| Singapore says Capital flows into Asian economies pose risks |
27 10 2010
Tags: MAS
| WRITTEN BY BLOOMBERG |
| WEDNESDAY, 27 OCTOBER 2010 12:02 |
Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
“Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.”
Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April.
“The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.”
OVERSEAS DEMAND
Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks.
“The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.”
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
CURRENCY GAINS
The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history.
On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.”
The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report.
Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today.
Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said.
“Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report.
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| Singapore says Capital flows into Asian economies pose risks |
27 10 2010
Tags: MAS
| WRITTEN BY BLOOMBERG |
| WEDNESDAY, 27 OCTOBER 2010 12:02 |
Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
“Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.”
Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April.
“The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.”
OVERSEAS DEMAND
Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks.
“The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.”
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
CURRENCY GAINS
The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history.
On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.”
The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report.
Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today.
Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said.
“Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report.
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| Singapore says Capital flows into Asian economies pose risks |
27 10 2010
Tags: MAS
| WRITTEN BY BLOOMBERG |
| WEDNESDAY, 27 OCTOBER 2010 12:02 |
Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
“Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.”
Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April.
“The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.”
OVERSEAS DEMAND
Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks.
“The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.”
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
CURRENCY GAINS
The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history.
On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.”
The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report.
Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today.
Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said.
“Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report.
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| Singapore says Capital flows into Asian economies pose risks |
27 10 2010
Tags: MAS
| WRITTEN BY BLOOMBERG |
| WEDNESDAY, 27 OCTOBER 2010 12:02 |
Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
“Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.”
Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April.
“The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.”
OVERSEAS DEMAND
Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks.
“The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.”
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
CURRENCY GAINS
The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history.
On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.”
The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report.
Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today.
Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said.
“Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report.
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Bad Post
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| Singapore says Capital flows into Asian economies pose risks |
27 10 2010
Tags: MAS
| WRITTEN BY BLOOMBERG |
| WEDNESDAY, 27 OCTOBER 2010 12:02 |
Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
“Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.”
Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April.
“The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.”
OVERSEAS DEMAND
Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks.
“The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.”
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
CURRENCY GAINS
The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history.
On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.”
The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report.
Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today.
Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said.
“Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report.
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Bad Post
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x 0
x 0
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| Singapore says Capital flows into Asian economies pose risks |
27 10 2010
Tags: MAS
| WRITTEN BY BLOOMBERG |
| WEDNESDAY, 27 OCTOBER 2010 12:02 |
Singapore’s central bank said Asia faces growing risks from capital inflows and called for “close monitoring” by policy makers to avoid a disorderly reversal.
The region’s “brighter” economic outlook compared with the rest of the world may result in higher inflationary pressures, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Singapore’s economy, which may hit a “soft patch” in the coming quarters, should keep expanding, it said.
“Inflationary pressures remain significant in Asia,” the central bank said. “Large capital inflows into the region have continued to fuel activities and prices in the asset markets, which could also pose a risk to the inflation outlook.”
Growth in Asia is outpacing the rest of the world, prompting policy makers to raise interest rates ahead of their counterparts in the U.S. and Europe to fight inflation and prevent asset price bubbles. Singapore’s central bank signaled this month it will allow faster gains in its dollar, its main tool to manage inflation, after undertaking a one-time revaluation in April.
“The policy decision was made on the assessment that the level of economic activity would remain high, as the domestic economy would continue to expand, albeit at a slower and more sustainable pace,” the central bank said. “Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector.”
OVERSEAS DEMAND
Singapore has remained vulnerable to fluctuations in overseas demand for manufactured goods even after the government boosted financial services and tourism. The International Monetary Fund this month lowered its 2011 forecast for world growth, citing high unemployment, public debt and fragile banking systems as risks.
“The outlook for Singapore’s key trading partners will remain uneven,” according to the report. “Notably, the advanced economies will continue to face significant hurdles in transiting from public sector-driven to private demand-led growth. While the risk of the developed economies slipping back into recession has generally receded, final demand is likely to remain sluggish.”
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, while employment growth is boosting spending at malls and restaurants. The central bank reiterated the government’s forecast for a 2010 expansion of as much as 15%, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
CURRENCY GAINS
The Singapore dollar has gained more than 8% against the U.S. currency this year. At its April monetary policy review, the central bank said it would shift the local dollar to a stronger range to trade in and sought an appreciation thereafter, the first such combined move in its history.
On Oct. 14, the central bank said it will steepen and widen the currency’s trading band while continuing to seek a “modest and gradual appreciation.”
The Singapore dollar “has fluctuated in the upper half of the exchange-rate policy band” since the April policy review, the monetary authority said in today’s report.
Singapore’s inflation last month accelerated to the highest level since January 2009, rising 3.7% from a year earlier. Consumer price gains are forecast to quicken to about 4% by the end of the year, the central bank said today.
Prices will average between 2.5% and 3% in 2010 and will be between 2% and 3% next year, it said. Inflation may be driven by higher global commodity prices and domestic labor and accommodation costs, the central bank said.
“Given these upside pressures to inflation, MAS deemed it appropriate to tighten monetary policy at this juncture to dampen external inflation as well as to provide the necessary macroeconomic restraint on domestic economic activity, thereby ensuring that cost and price pressures do not become entrenched,” according to the report.
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