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.

How does Singapore's approach to stabilizing prices differ from other developed nations?

What is the expected inflation rate for 2023 according to Bloomberg economics?