Rising inflation and a strong economy have fuelled talk that monetary policy in Singapore will need to be tightened further. But we think the backdrop will have changed by the time the Monetary Authority of Singapore (MAS) next meets in October. Our forecast is that monetary settings will remain on hold for the rest of this year.
Meanwhile, in the Philippines, Benjamin Diokno (the current central bank governor), has been appointed as the new financial secretary. The announcement of an experienced technocrat in a key position should help ease the concerns of investors, who have been unnerved by the election of Ferdinand “Bongbong” Marcos Jr. as the country’s new president.
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