Economist Barnabas Gan at UOB Group gives his views on both the economic growth prospects and the MAS stance for the current year. Key Quotes “Singapore’s GDP rose 1.0% on a year-on-year basis in the fourth quarter of 2019, according to the Ministry of Trade and Industry (MTI). On a quarter-on-quarter seasonally adjusted basis, it expanded 0.6%. Accounting for the latest data, Singapore’s economy grew 0.7% in 2019.” “With the onset of the COVID-19 outbreak, MTI downgraded Singapore’s growth outlook to a range of -0.5% to +1.5% for 2020, with growth expected to come in at around 0.5%.” “Considering the impact of the COVID-19 outbreak, we had previously shaded GDP growth to a range of +0.5% to +1.0% in 2020, vs. +1.5% projection prior to the outbreak. We are trimming our forecast down to 0.5% in 2020 with downside risk, especially if the virus outbreak progresses to be more widespread, severe and protracted than anticipated.” “The Monetary Authority of Singapore (MAS) is scheduled to announce its monetary policy decision in April 2020. Owing to the uncertain backdrop and weakened growth outlook, we now expect policy-makers to ease policy to neutral, down from a currently perceived +0.5% appreciation slope.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK’s Sunak: March 11 budget to deliver on promises made to British people FX Street 2 years Economist Barnabas Gan at UOB Group gives his views on both the economic growth prospects and the MAS stance for the current year. Key Quotes “Singapore’s GDP rose 1.0% on a year-on-year basis in the fourth quarter of 2019, according to the Ministry of Trade and Industry (MTI). On a quarter-on-quarter seasonally adjusted basis, it expanded 0.6%. Accounting for the latest data, Singapore’s economy grew 0.7% in 2019.” “With the onset of the COVID-19 outbreak, MTI downgraded Singapore’s growth outlook to a range of -0.5% to +1.5% for 2020, with growth expected to come in at around 0.5%.” “Considering the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.