皇冠体育寻求亚洲战略合作伙伴,皇冠代理招募中,皇冠平台开放会员注册、充值、提现、电脑版下载、APP下载。

首页社会正文

欧博官网(www.aLLbet8.vip):Singapore’s next big challenge is already here

admin2022-09-0221

新2手机管理端网址www.hg108.vip)实时更新发布最新最快最有效的新2手机管理端网址,包括新2手机网址,新2备用网址,皇冠最新网址,新2足球网址,新2网址大全。

Trying times: People watch as fireworks explode over Marina Bay during the National Day celebrations in Singapore. The city-state is bracing itself for a protracted period of slacker growth and a drawn-out fight against inflation. — Reuters

TO listen to Singapore’s leader, the Bank of England (BoE) nailed it.

The United Kingdom central bank’s warning of a tough new era that sent shockwaves through the world of monetary economics resonated in the city-state.

The tiny republic that’s staked its survival on the ebbs and flows of global capitalism is girding for a protracted period of slacker growth and a drawn-out fight against inflation.

Singaporeans initially enjoyed robust growth coming out of Covid-19, but need to adjust to a less-favourable financial and strategic environment.

That was the dour message from Prime Minister Lee Hsien Loong on the eve of Tuesday’s celebrations marking the nation’s 57th birthday.

“The world is not likely to return anytime soon to the low inflation levels and interest rates that we have enjoyed in recent decades,” Lee said.

Singapore had its share of fumbles, but it looks good now, especially when compared to the debacle of Hong Kong’s pandemic response.

Even so, its next challenge is here.

Borrowing costs are climbing in almost every economy and global growth is losing altitude.

,

欧博官网www.aLLbet8.vip)是欧博集团的官方网站。欧博官网开放Allbet注册、Allbe代理、Allbet电脑客户端、Allbet手机版下载等业务。

,

That’s a familiar message to central bank watchers, though few heads of government have laid the shift out as starkly to the citizenry.

Even in the annals of monetary policy, the BoE’s pronouncement days before Lee’s remarks was startling: A long recession will begin soon, unemployment will go up and inflation will remain elevated.

Don’t look for rate cuts to alleviate the downturn.

“To our knowledge, no central bank has ever published as negative an economic forecast (relative to the private sector consensus) as the Bank of England’s latest,” Jan Hatzius, chief economist at Goldman Sachs Group Inc, wrote in a report Monday.

Inflation in Singapore is low relative to many advanced economies at 4.4%, excluding private transport and accommodation. It’s nevertheless accelerating; June’s reading was the highest in almost 14 years.

The Monetary Authority of Singapore (MAS) reckons inflation will peak next quarter, before easing toward the end of the year.

Given the experience of most central banks who were surprised by the force of price increases, it would be unwise to bet the house on that.

Policy has been tightened four times, beginning last year, and economists foresee the MAS tapping the brakes at least once more.

The core level inflation obscures some of the pain most households feel. The all-items consumer price index climbed 6.7%, quicker than most economists had forecast.

“I know the cost of living is at the top of everyone’s minds,” Lee said. Residents are wrestling with spikes in electricity charges, contending with big jumps in rent, moaning about the cost of taxis and ride-hailing services and spiralling costs of home renovations.

网友评论

1条评论
  • 2022-09-02 00:21:59

    皇冠备用网址www.hg9988.vip)是一个开放皇冠网址即时比分、皇冠网址代理最新登录线路、皇冠网址会员最新登录线路、皇冠网址代理APP下载、皇冠网址会员APP下载、皇冠网址线路APP下载、皇冠网址电脑版下载、皇冠网址手机版下载的皇冠新现金网平台。
    这作者妥妥的高材生

热门标签