Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Singapore’s lower-than-expected MAS core inflation cements case for pause at upcoming MAS April review, says ANZ Research

Singapore’s lower than expected MAS core inflation print, which eased to 1.5 percent y/y in February from 1.7 percent the month before, cemented the case for a pause at the upcoming April review of the Monetary Authority of Singapore (MAS), according to the latest report from ANZ Research.

Alongside economic growth slowing towards trend and the US Federal Reserve signalling a pause in their hiking cycle, there is no pressing need for the MAS to further tighten policy at this stage.

While a tight labour market could still see inflation pressures emerge, this is not evident, especially in the costs of services. Lower prices for electricity and gas in the coming quarter look set to keep core inflation manageable.

A tight labour market is still expected to exert some upward pressure on domestic prices. But at present, this is not evident in the CPI numbers with the competitive landscape helping to hold down prices for services. The MAS has maintained its forecast for Core Inflation and CPI-All Items inflation at 0.5-1.5 percent and 1.5-2.5 percent respectively for 2019, the report added.

"While a tight labour market could still see inflation pressures emerge, this is not evident, especially in the costs of services. Lower prices for electricity and gas in the coming quarter look set to keep core inflation manageable," ANZ Research commented.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

April 19 12:30 UTC Released

USHouse Starts MM: Change

Actual

-0.3 %

Forecast

Previous

-8.7 %

April 19 12:30 UTC Released

USHousing Starts Number MM

Actual

1.139 Mln

Forecast

1.23 Mln

Previous

1.162 Mln

January 31 00:00 UTC 638962638962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 638962638962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 650782650782m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 638962638962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 650782650782m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 638962638962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 638962638962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 638962638962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.