Latest news with #MonetaryAuthority
CNA
23-07-2025
- Business
- CNA
Singapore's core inflation rises 0.6% in June, lower than poll forecast
SINGAPORE: Singapore's key consumer price gauge rose 0.6 per cent in June from a year earlier, official data showed on Wednesday (Jul 23), lower than economists' forecasts. The core inflation rate, which excludes private road transport and accommodation costs, compared with a forecast of 0.7 per cent in a Reuters poll of economists. Higher inflation in retail and other goods was offset by lower inflation in all other major core consumer price index categories, said the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI). The core inflation rate in June was identical to that in May. Meanwhile, headline inflation was 0.8 per cent in annual terms in June, lower than economists' forecast of 0.9 per cent. It was also unchanged from May. Apart from core inflation remaining unchanged, higher transport inflation was offset by lower accommodation inflation, said MAS and MTI. MAS and MTI expect Singapore's imported inflation to remain "moderate" as global crude oil prices have eased and food commodity price increases should remain contained. "Although the ongoing trade conflicts could be inflationary for some economies, their impact on Singapore's import prices is likely to be offset by the disinflationary drags exerted by weaker global demand," they said. Domestically, unit labour costs are "projected to rise gradually" as nominal wage growth continues to ease, even as productivity increases. Enhanced government subsidies for essential services such as public healthcare, preschool education and public transport will also continue to dampen services inflation, according to MAS and MTI.
The Standard
21-07-2025
- Business
- The Standard
Singapore central bank to place S$1.1 billion with asset managers to boost stock market
The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. Reuters
RTHK
14-07-2025
- Business
- RTHK
'Onshore bonds held by global investors could triple'
'Onshore bonds held by global investors could triple' The Monetary Authority recently announced enhancements to the offshore RMB bond repurchase business to facilitate participation of northbound Bond Connect investors. File photo: RTHK Philippe Dirckx speaking to Chloe Feng An independent regional trade group anticipated holdings of onshore bonds by overseas investors to more than triple to 10 percent in the coming years, after Beijing further expanded the Bond Connect scheme to encourage capital flow. Under the expansion, four types of mainland-based financial institutions – brokerages, insurers, mutual funds, and wealth managers – that were previously excluded will be allowed to utilise the southbound leg of the trading link to access global bonds via Hong Kong. Philippe Dirckx, managing director and head of fixed income at the Asia Securities Industry and Financial Markets Association (ASIFMA), said this could broaden the profiles of mainland investors, many of whom were seeking to diversify their assets. "If you're looking at the new institutions that have been granted access, especially the mutual funds and wealth management, insurance companies, these are institutions that are looking for large sets of investment,' he told RTHK. "They're looking at other links [that they do not] have on shore, [and] all the investment opportunities that they need to fulfil their end-clients' desire, catching [up] expectation in terms of yields or the profile of diversification." He expected demand for both yuan-denominated "dim sum" bonds, as well as US-dollar-denominated bonds issued in the SAR to be sought after by these investors. The scheme's continuous tweaks, Dirckx noted, could also pave the way for global investors to boost their onshore bond holdings, which currently stood at three percent. "The three percent is certainly way too low for I think the trend will definitely be for international investors to hold way more of Chinese-assets than they currently do. My view is that it could go up to 10 percent if you compare to the peers," he said. "I think we are a at an interesting point now when we see (the) US dollar weakening against most of the currencies across the globe, and you've seen investors diversifying the investment outside of the US. "So they there are many factors that could drive the attractiveness of Chinese assets and Chinese government bonds for international investors. "And by doing so, it will internationalise the renminbi," Dirckx added, although he cautioned many factors could affect progress, including interest rate differentials and geopolitics.
RTHK
14-07-2025
- Business
- RTHK
'Onshore bonds held by global investors could triple'
'Onshore bonds held by global investors could triple' The Monetary Authority recently announced enhancements to the offshore RMB bond repurchase business to facilitate participation of northbound Bond Connect investors. File photo: RTHK Philippe Dirckx speaking to Chloe Feng An independent regional trade group anticipated holdings of onshore bonds by overseas investors to more than triple to 10 percent in the coming years, after Beijing further expanded the Bond Connect scheme to encourage capital flow. Under the expansion, four types of mainland-based financial institutions – brokerages, insurers, mutual funds, and wealth managers – that were previously excluded will be allowed to utilise the southbound leg of the trading link to access global bonds via Hong Kong. Philippe Dirckx, managing director and head of fixed income at the Asia Securities Industry and Financial Markets Association (ASIFMA), said this could broaden the profiles of mainland investors, many of whom were seeking to diversify their assets. "If you're looking at the new institutions that have been granted access, especially the mutual funds and wealth management, insurance companies, these are institutions that are looking for large sets of investment,' he told RTHK. "They're looking at other links [that they do not] have on shore, [and] all the investment opportunities that they need to fulfil their end-clients' desire, catching [up] expectation in terms of yields or the profile of diversification." He expected demand for both yuan-denominated "dim sum" bonds, as well as US-dollar-denominated bonds issued in the SAR to be sought after by these investors. The scheme's continuous tweaks, Dirckx noted, could also pave the way for global investors to boost their onshore bond holdings, which currently stood at three percent. "The three percent is certainly way too low for I think the trend will definitely be for international investors to hold way more of Chinese-assets than they currently do. My view is that it could go up to 10 percent if you compare to the peers," he said. "I think we are a at an interesting point now when we see (the) US dollar weakening against most of the currencies across the globe, and you've seen investors diversifying the investment outside of the US. "So they there are many factors that could drive the attractiveness of Chinese assets and Chinese government bonds for international investors. "And by doing so, it will internationalise the renminbi," Dirckx added, although he cautioned many factors could affect progress, including interest rate differentials and geopolitics.
Bloomberg
09-07-2025
- Business
- Bloomberg
Singapore's Gan Says Climate Outlook Most Uncertain in a Decade
Action to tackle climate change is facing the most uncertain global backdrop since the Paris Agreement was struck in 2015, according to Singapore's Deputy Prime Minister Gan Kim Yong. 'Geopolitical shifts and heightened trade and economic uncertainty present significant challenges,' Gan, who serves as the Monetary Authority of Singapore 's chairman, said Wednesday in the central bank's annual sustainability report. Decarbonization efforts are being impacted as lenders rethink their approach, and with 'other institutional supporters of climate action reassessing their commitments,' he said.
