Economists divided on future monetary policy moves amid rising inflation
Despite a surprise uptick in February’s core inflation, private-sector economists expect the Monetary Authority of Singapore (MAS) to maintain its policy parameters at the upcoming April review. Core inflation in February rose to 3.6%, higher than January’s 3.1% and exceeding the 3.4% median forecast from economists polled by Bloomberg.
Headline inflation also increased to 3.4% year-on-year, surpassing January’s 2.9% and the forecasted 3.2%. Economists attributed the rebound in price growth to factors such as higher Chinese New Year spending and increased travel costs.
Looking ahead, economists remain divided on MAS’s monetary policy moves for the rest of 2024. The central bank’s decision in April will be closely watched as Singapore navigates these inflationary pressures.
