Datasets:
gtfintechlab
/
monetary_authority_of_singapore

Dataset card Data Studio Files
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Community
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1
999
in april this year, mas maintained the policy of a modest and gradual appreciation of the s$neer policy band which has been adopted since april 2004.
hawkish
not forward looking
certain
2,005
549
the strong upward pressures on the s$ reflected broad-based us$ weakness amidst renewed concerns over the current account deficit in the us.
hawkish
not forward looking
certain
2,005
476
according to the advance estimates released by the ministry of trade and industry today, the singapore economy registered marginal growth of 0.1% on a quarter-on-quarter seasonally adjusted annualised basis in q3 2015, following the 2.5% contraction in q2.
neutral
not forward looking
certain
2,015
663
despite the continuing risks to external demand conditions, the for the singapore economy remains generally positive at this stage.
neutral
forward looking
uncertain
2,006
820
meanwhile, cpi-all items inflation moderated, averaging 1.6% since october 2013 compared to 2.5% in january–september 2013, as car prices declined and imputed rentals on owner-occupied accommodation rose at a slower pace.
dovish
not forward looking
certain
2,014
736
the global investment cycle has yet to show signs of an upswing, and this will continue to weigh on the region’s exports into 2017.
neutral
forward looking
certain
2,016
867
growth in manufacturing and trade-related activities eased, as inclement weather in the us dampened demand for singapore’s exports.
hawkish
not forward looking
certain
2,014
32
these developments have delayed the recovery in the singapore economy.
neutral
not forward looking
certain
2,003
990
singapore’s gdp growth is projected to be below trend this year.
dovish
forward looking
uncertain
2,023
676
the resident unemployment rate is expected to rise and wage growth ease.
dovish
forward looking
uncertain
2,020
234
reflecting the decline in core inflation, cpi-all items inflation eased to 0.4% from 0.5% over the same period.
dovish
not forward looking
certain
2,019
833
the mas underlying inflation measure, which excludes accommodation and private road transport costs, is projected at 1.5-2.5% in 2008.
neutral
forward looking
certain
2,007
892
while singapore’s growth momentum was expected to slow, mas had assessed that it was prudent to tighten further and lean against price pressures becoming more persistent.
hawkish
not forward looking
certain
2,022
472
according to the advance estimates released by the ministry of trade and industry today, singapore’s gdp expanded by a further 14.9% q-o-q saar in q3 2009, with a broad range of industries across both the manufacturing and services sectors registering positive growth.
neutral
not forward looking
certain
2,009
201
the singapore economy is projected to grow at a slower pace in 2016 than envisaged in the april policy review.
neutral
forward looking
uncertain
2,016
745
this policy stance, which has been in place since april 2012, was assessed to be appropriate, taking into account the balance of risks between external demand uncertainties and rising domestic inflationary pressures.
neutral
not forward looking
certain
2,014
678
the actual outcome of s$neer movements over the six months since october 2015 has in fact been a zero percent appreciation compared to the preceding six-month period.
neutral
not forward looking
certain
2,016
959
on a year-ago basis, mas core inflation is projected to pick up gradually into early next year, before easing in the second half of 2015.
neutral
forward looking
uncertain
2,014
710
mas core inflation is likely to stay around 5% for the rest of 2022, and into early 2023.
neutral
forward looking
uncertain
2,022
159
cpi-all items inflation fell to 0.5% from 0.8% over the same period.
dovish
not forward looking
certain
2,017
368
at the same time, trade-related services also posted healthy growth, reflecting sustained economic activity across the region.
neutral
not forward looking
certain
2,005
185
in the following months, as the economy softened, the s$neer trended downwards, especially in the aftermath of the bali bombing.
dovish
not forward looking
certain
2,003
728
against this backdrop, and taking into account the q1 performance, gdp growth for 2005 is projected to come in at the lower half of the forecast range of 3-5%.
neutral
forward looking
uncertain
2,005
735
similarly, all core inflation measures have moderated, with the mas underlying inflation falling below 1% in october.
dovish
not forward looking
certain
2,002
492
against this backdrop, the singapore economy is expected to contract in 2020.
dovish
forward looking
certain
2,020
505
inflationary pressures have since picked up amidst the buoyant domestic economic conditions and the recent rise in global oil and food prices.
hawkish
not forward looking
uncertain
2,007
168
these two factors will continue to drive headline inflation rates up for the rest of 2010.
hawkish
forward looking
certain
2,010
38
however, there remain upside risks to inflation from fresh shocks to global commodity prices and domestic wage pressures.
hawkish
forward looking
certain
2,022
101
cpi-all items inflation will remain elevated in q4 2012 and q1 2013, reflecting significant contributions from imputed rentals on owner-occupied accommodation and car prices, before moderating gradually over the rest of 2013.
hawkish
forward looking
certain
2,012
233
mas will be shifting the schedule of its semi-annual cycle from january/july to april/october.
irrelevant
forward looking
certain
2,003
266
in the region, economies that are lifting mobility and travel restrictions will spur a short-term recovery in demand and easing of supply chain frictions.
hawkish
forward looking
uncertain
2,022
470
in the us, business sentiments have improved, and the incipient recovery of the labour market is supporting private consumption.
neutral
not forward looking
certain
2,012
688
global economic growth is expected to slow discernibly in 2019 compared to the previous two years, and should stabilise in 2020 barring further shocks.
neutral
forward looking
uncertain
2,019
707
cpi & mas underlying inflation measures of core inflation the higher cpi inflation in 2000 largely reflected the oil price shock and hikes in several administrative charges.
neutral
not forward looking
certain
2,001
278
overall wage growth should be well-contained, although there could be stronger pressures in some industries where the demand for labour is particularly robust.
neutral
forward looking
uncertain
2,006
570
mas will continue to maintain the current policy of a modest and gradual appreciation of the s$neer policy band as announced in our statement of 12 april 2005.
hawkish
forward looking
certain
2,005
670
cpi-all items inflation will rise in the coming months due to the low base a year ago when coe premiums fell, but it should ease in the second half of 2014.
neutral
forward looking
certain
2,014
675
with fiscal consolidation underway, the pace of transition to private demand-led growth in the g3 economies is expected to be gradual.
neutral
forward looking
uncertain
2,010
144
this year will also contribute to a temporary increase in cpi inflation.
neutral
forward looking
certain
2,017
918
while global oil prices would be capped by elevated inventories as well as rising us crude oil production, average prices for the year will still be higher than in 2016.
neutral
forward looking
certain
2,017
141
oil prices have fluctuated within a fairly narrow range over the first nine months of this year, and are expected to increase only slightly in 2018 compared to 2017.
neutral
forward looking
certain
2,017
263
this reflected the fall in global energy prices, strong consumption demand in the advanced economies, and the lifting of pandemic restrictions in china.
dovish
not forward looking
certain
2,023
128
however, these would be gradual, in line with subdued wage growth as the slack in the labour market will take time to be fully absorbed.
dovish
forward looking
uncertain
2,021
607
amid a pullback in hiring, conditions in the labour market have slackened.
dovish
not forward looking
certain
2,016
108
overall inflation is expected to come in lower this year, between 1.0% to 0%.
dovish
forward looking
uncertain
2,002
105
for 2009 and 2010 following the sharp contractions in q4 2008 and q1 2009, the singapore economy rebounded strongly by 22% on a quarter-on-quarter seasonally adjusted annualised (q-o-q saar) basis in q2 2009.
dovish
not forward looking
certain
2,009
35
industrial production data for the first two months of the year showed that the contraction in the manufacturing sector was mainly confined to the biomedical and transport engineering clusters.
neutral
not forward looking
certain
2,013
839
taking these developments into account, mas is revising its inflation forecasts for 2022.
neutral
forward looking
certain
2,022
537
against this backdrop, the level of economic activity in singapore is projected to remain high across a broad range of industries although growth could further ease in the near term.
neutral
forward looking
uncertain
2,010
495
as car and accommodation cost increases are also likely to remain firm, cpi-all items inflation is expected to come in at 5.0–6.0%, higher than the earlier forecast range of 4.5–5.5%.
hawkish
forward looking
certain
2,022
979
growth in asia will likely remain firm, supported in part by robust domestic demand.
hawkish
forward looking
uncertain
2,010
271
mas will therefore maintain the current policy stance of a zero percent appreciation of the s$neer policy path.
neutral
not forward looking
certain
2,009
8
meanwhile, activity in the services sectors stayed firm, supported mainly by financial and business services, as well as information & communications services.
irrelevant
not forward looking
certain
2,019
737
it would also allow mas to make better use of the forecast and data releases by the ministry of trade and industry and department of statistics in assessing the economic and the appropriate stance.
irrelevant
forward looking
certain
2,003
523
from 0.8% in the first half of last year, it rose to 3.4% in h2 before accelerating further to 6.6% in jan-feb 2008.
neutral
not forward looking
certain
2,008
968
a sharp escalation in geopolitical and trade conflicts could exert sizeable drags on global and domestic investment and trade.
dovish
forward looking
uncertain
2,024
279
in the last six months, the drag on gdp growth exerted by the manufacturing sector has intensified, reflecting the ongoing downturn in the global electronics cycle as well as the pullback in investment spending, caused in part by the uncertainty in us-china relations.
neutral
not forward looking
certain
2,019
853
imported price pressures have generally been muted in recent quarters, in line with the weaker external environment and the appreciating singapore dollar.
hawkish
not forward looking
certain
2,012
899
foreign inflationary pressures are expected to be benign this year, especially with the softening in oil prices.
dovish
forward looking
certain
2,001
282
mas core inflation, which excludes the costs of private road transport and accommodation, has been subdued.
dovish
not forward looking
certain
2,016
758
should economic conditions evolve as expected, mas core inflation will rise gradually over the course of this year.
hawkish
forward looking
certain
2,018
375
cpi inflation forecast for 2002 the domestic economy is expected to continue on its recovery path, although some uncertainty remains over its strength for the rest of the year.
neutral
forward looking
uncertain
2,002
937
the 2019 forecast for cpi-all items inflation was revised down to 0.5–1.5% from 1–2% in february, taking into account the decline in global oil prices in late 2018.
dovish
forward looking
certain
2,019
92
in the april 2022 statement, mas re-centred upwards the s$neer policy band and further increased its rate of appreciation.
hawkish
not forward looking
certain
2,022
371
according to the advance estimates released by the ministry of trade and industry today, singapore’s gdp rose by a modest 0.1% in q1 2014 on a quarter-on-quarter seasonally adjusted annualised basis, following the 6.1% expansion in q4.
neutral
not forward looking
certain
2,014
190
domestic unit labour costs are also expected to turn positive after declining last year, reflecting the moderation of cyclical productivity gains and continued improvement in the labour market.
neutral
forward looking
certain
2,005
546
the covid-19 pandemic has led to a severe contraction in economic activity both in singapore and globally, due to the combination of supply chain disruptions, travel restrictions imposed in many countries and a sudden decline in demand.
neutral
not forward looking
certain
2,020
804
mas will continue to monitor global and domestic economic developments, amid heightened uncertainty on both the inflation and growth fronts.
neutral
forward looking
uncertain
2,022
325
real domestic three-month interbank rates, which turned positive in december 2004, have remained largely in line with its historical average.
neutral
not forward looking
certain
2,006
568
wage pressures are thus unlikely to accelerate in the near term, while the gradual improvement in underlying productivity growth continues.
dovish
forward looking
uncertain
2,017
404
we therefore expect the singapore economy to remain subdued in the near term, and to start picking up only in the second half of 2002.
dovish
forward looking
uncertain
2,002
352
significant uncertainty remains over the short-term .
neutral
forward looking
uncertain
2,019
866
further, the global it industry remains weak on a build-up of inventories and strong competitive price pressures.
neutral
not forward looking
certain
2,007
208
mas core inflation will stay subdued in 2015, but should pick up gradually over 2016, largely due to the dissipation of the disinflationary effects of lower oil prices, and budgetary and other one-off measures.
hawkish
forward looking
uncertain
2,015
679
the sequential pace of price change, which better captures the most recent inflation in the economy, is expected to be lower in the second half of 2024 compared to h1.
dovish
forward looking
uncertain
2,024
145
there will be no change to the slope or width of the policy band.
neutral
forward looking
certain
2,008
567
mas underlying inflation is also expected to hold steady at 1-2% in 2007.
neutral
forward looking
certain
2,007
793
for the first half of 2008, headline cpi inflation is projected to rise to about 3.5% on a year-on-year basis on account of the gst hike, as well as the base effects of lower energy and car prices in h1 2007.
hawkish
forward looking
certain
2,007
6
this policy stance was assessed to be appropriate in light of the modest for growth and inflation.
neutral
not forward looking
certain
2,017
329
following the announcement, the s$neer trended downwards, largely reflecting a general strengthening of the us dollar against major currencies and concerns over the implications for the region of a marked slowdown in the chinese economy.
dovish
not forward looking
certain
2,004
857
since mid-october 2021, the s$neer has strengthened by 0.97% and is currently close to the top of the policy band.
hawkish
not forward looking
certain
2,022
653
in its october 2018 statement, mas announced a slight increase in the slope of the s$neer policy band.
hawkish
not forward looking
certain
2,019
612
in comparison, modern services, such as information & communications, and selected domestic-oriented sectors should continue to provide support to the economy, underpinned by government spending and robust demand for healthcare and education services.
neutral
not forward looking
certain
2,016
104
mas core inflation is now projected to be 2.0–3.0% this year, from the 1.0–2.0% expected in october.
neutral
forward looking
certain
2,022
21
the singapore economy is evolving as envisaged in the january mps.
neutral
not forward looking
certain
2,015
517
singapore’s gdp growth is projected to come in at 3–4% in 2022.
neutral
forward looking
uncertain
2,022
514
in particular, the electronics industry will show a sharp slowdown, although this will be somewhat offset by stronger growth in the chemical cluster, with several major petrochemical and pharmaceutical plants coming on-stream in 2001.
neutral
forward looking
certain
2,001
69
on a quarter-on-quarter, seasonally adjusted annualised basis, gdp contracted by 9.9% in q3 and grew by just 0.1% in q4.
neutral
not forward looking
certain
2,003
165
in 2019, external sources of inflation are likely to be benign, as global oil prices are expected to come in lower for the year as a whole than in 2018, while food prices should only pick up slightly on average.
dovish
forward looking
certain
2,019
301
a turnaround in the global electronics industry also contributed to a pickup in exports and production among the east asian economies.
neutral
not forward looking
certain
2,002
648
in the near term, growth in singapore’s major trading partners is expected to be tempered by the impact of past tightening and withdrawal of previous expansionary fiscal policies.
neutral
forward looking
uncertain
2,024
66
notwithstanding the slowdown in the us economy and the turbulence in financial markets, economic activity in singapore has continued to stay firm.
neutral
not forward looking
certain
2,008
680
mas has not changed its policy of allowing a gradual, modest appreciation of the trade-weighted singapore dollar within a policy band, as stated in the mas statement of feb 2001.
hawkish
not forward looking
certain
2,001
900
with the s$neer currently close to the mid-point of the policy band, there is scope for exchange rate flexibility in line with developments in external conditions in the period ahead.
neutral
forward looking
uncertain
2,005
450
nevertheless, output will still be below potential in 2021.
neutral
forward looking
uncertain
2,021
68
with imported inflation turning more negative and core inflation expected to ease materially by end-2023, mas has assessed that the current appreciating path of the s$neer policy band is sufficiently tight and appropriate for securing medium-term price stability.
dovish
not forward looking
certain
2,023
700
the retail and real estate segments, however, are likely to soften as economic sentiment weakens.
neutral
forward looking
uncertain
2,016
483
however, core inflation will stay elevated over the next few quarters, as imported inflation remains significant and a tight labour market supports strong wage increases.
hawkish
forward looking
certain
2,022
729
for the full year, it is expected to come in at around 5% in 2011 and 2.5-3.5% in 2012.
neutral
forward looking
uncertain
2,011
734
the trade-related cluster is expected to contract further, while activity in the modern services sectors remains subdued.
hawkish
forward looking
uncertain
2,023
58