Alvin Tan on impact of monetary policy on trade exports
The strengthening of the Singapore dollar is not expected to have a significant negative impact on Singapore's exports, said Minister of State for Trade and Industry and Monetary Authority of Singapore (MAS) board member Alvin Tan in Parliament on Monday (May 9). This is because Singapore's exports, being generally high value-added products and services, are primarily dependent on demand, rather than price and the exchange rate. Answering an MP's questions, Mr Tan said MAS expects core inflation to continue to rise before peaking at around 4 per cent in the third quarter of this year. It is likely to stay at a higher rate than in recent years, due to pressures in global energy and other commodity markets. Mr Tan added that barring further external shocks, the Singapore economy should grow at an above-trend pace for the second consecutive year at around 3 to 5 per cent.
The strengthening of the Singapore dollar is not expected to have a significant negative impact on Singapore's exports, said Minister of State for Trade and Industry and Monetary Authority of Singapore (MAS) board member Alvin Tan in Parliament on Monday (May 9). This is because Singapore's exports, being generally high value-added products and services, are primarily dependent on demand, rather than price and the exchange rate. Answering an MP's questions, Mr Tan said MAS expects core inflation to continue to rise before peaking at around 4 per cent in the third quarter of this year. It is likely to stay at a higher rate than in recent years, due to pressures in global energy and other commodity markets. Mr Tan added that barring further external shocks, the Singapore economy should grow at an above-trend pace for the second consecutive year at around 3 to 5 per cent.
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