Singapore Averts Recession; Monetary Authority Raises Currency Band

The video discusses Singapore's economic growth, highlighting a faster-than-expected growth rate of 4.4% and contributions from the construction and services sectors. The Central Bank's decision to recenter the currency band is explained as a measure to manage inflation, which is projected to be 4% in 2022. The post-pandemic economic boom has led to higher local prices, and the currency policy aims to stabilize these costs. The future direction of the Singapore dollar is linked to US Federal Reserve actions.

What was the revised growth rate for Singapore's previous quarter?

• 4.0%

• 5.0%

• 4.5%

• 3.5%

What tool does Singapore use to stabilize prices instead of interest rates?

• Tax adjustments

• Fiscal policy

• Exchange rate

• Subsidies

What is the expected core inflation rate for Singapore in 2022?

• 6%

• 5%

• 4%

• 3%

What is the projected inflation rate range for Singapore in 2023?

• 4% to 5%

• 4.5% to 5.5%

• 5.5% to 6.5%

• 6% to 7%

What factor is said to influence the direction of the Singapore dollar?

• Federal Reserve actions

• Local economic policies

• Tourism rates

• Housing market trends