U.K. jobless rate rises to 4.8 pct in Q3 2020, labor market likely to deteriorate further in months ahead
Singapore's MAS unlikely to revise its monetary policy
Headline inflation in Singapore for November remained steady and stood at -0.8% year on year. For last thirteen months, the gauge is in negative territory. Similarly, the core inflation surprisingly reduced to 0.2% y/y from 0.3% in October.
The core inflation is expected to be bottomed out and will move up next year. Therefore, the Monetary Authority of Singapore is likely to take a decision carefully.
"We think that the MAS will look through the softness in headline and core inflation. For now, we maintain our 2015 and 2016 forecasts for headline inflation of -0.5% and 1.2% respectively. ... The token easing was in line with our view of no material deterioration in the outlook for growth and inflation. The MAS remains firmly focused on the key medium-term inflation driver - the tight labour market. Unless there is a systemic shock, we expect no change policy in the April 2016 MPS", states Barclays in a research note on Wednesday.