Singapore loosens monetary policy for first time in five years

The Monetary Authority of Singapore will "reduce slightly the slope" of the dollar trading band, which it said will ensure medium-term price stability.

The headquarters of the Monetary Authority of Singapore. (Photo: MAS)
The headquarters of the Monetary Authority of Singapore. (Photo: MAS)

Singapore (VNA) - The Monetary Authority of Singapore relaxed its monetary policy on January 24, marking the first adjustment in nearly five years, amid projections of slower inflation and economic growth this year.

MAS noted it will reduce slightly the slope of the dollar trading band, which it said will ensure medium-term price stability.

The central bank expects core inflation to average 1-2% this year, compared with the 1.5-2.5% projected in October 2024.

Singapore's imported costs should stay moderate, reflecting forecasts of global oil price declines and favourable supply conditions in key food commodity markets, MAS said.

Singapore's economy grew a forecast-topping 4% in 2024, according to advance estimates this month, but it is seen slowing to 1-3% in 2025.

The last time MAS eased policy was in March 2020, when the country braced for a deep recession due to the COVID-19 pandemic./.

VNA

See more

mbassador Anouparb Vongnorkeo, Permanent Representative of Laos to the United Nations (UN) (Photo: https://kpl.gov.la/)

Laos works closely with UNICEF to protect children’s rights

Ambassador Anouparb Vongnorkeo, Permanent Representative of Laos to the United Nations (UN) emphasised the partnership between UNICEF and the Lao government in ensuring and promoting children's rights and well-being, while mentioning challenges ahead, particularly amid climate change and global economic uncertainties.

Deputy for tourism and infrastructure development at the Ministry of Tourism Hariyanto. (Photo: ANTARA)

Indonesia boosts culinary tourism

To promote Indonesian culinary tourism, the Indonesian Ministry of Tourism is currently focusing on culinary products to ensure that tourism products can move up a class. It is also paying attention to wellness tourism, gastronomy, marine, and fashion.

A truck arrives as another departs from Laem Chabang deep-sea port in Chon Buri province. Thai exports to the US could face higher trade barriers. (Photo: Bangkok Post)

Thai exporters risk higher US tariffs: expert

Thai exports to the US that are at risk of US trade barriers include Bluetooth modules, broadband products, solar modules, power adapters, machinery and parts, auto parts, mobile camera modules, and air conditioners.

Illustrative image (Photo: Internet)

Lao, Cambodian Parties vow to tighten ties

The 15th high-level meeting between the Lao People’s Revolutionary Party (LPRP) and the Cambodian People’s Party (CPP) took place in Vientiane, Laos on February 7.

Chinese President Xi Jinping meets with Prime Minister of Thailand Paetongtarn Shinawatra, who is on an official visit to China, at the Great Hall of the People in Beijing on February 6, 2025. (Photo: Xinhua)

Thailand, China strengthen bilateral ties

Thai Prime Minister Paetongtarn affirmed Thailand's commitment to deepening law enforcement cooperation with China and its neighbouring countries, pledging strong and decisive actions to combat cross-border crimes, including online gambling and telecom fraud.

Cambodian Senate President Samdech Techo Hun Sen begins visit to Laos. (Photo: cpp.org.kh)

Lao, Cambodian legislative bodies enhance collaboration

The two sides appreciated the strong and close collaboration between Laos and Cambodia as well as their legislative bodies, reflected through the implementation of the contents of the Memorandum of Understanding on cooperation between the two legislatures, such as all-level delegation exchanges, and experience sharing.