Macro snapshot: Further tightening expected
? Last week, Singapore announced the easing of an array of community Safe
Management Measures and the scrapping of its VTL programme.
? With the economy reopening simultaneously with soaring commodity prices,
we revise upwards our inflation forecast to 3.2% for 2022F.
? As inflation looks poised to stay above MAS’s 2% upper bound target in the
near-term, we expect further tightening to be announced in two weeks’ time.