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The Department of Statistics will release January inflation data on 24 February and  January industrial production (IP) data on 26 February. Strategists at Standard Chartered bank share their forecast. USD/SGD is sitting at 1.4000.

Key quotes

“We expect core and headline inflation to have remained subdued at 0.8% y/y and 0.9% y/y, respectively, both inching up a mild 0.1ppt from December.” 

“We expect IP to have fallen 15.2% y/y, versus a 0.7% y/y decline in December, largely due to the Lunar New Year calendar effect.”

“We think the coronavirus only had a partial impact, if any, on IP in January. The adverse impact of the virus should be felt more acutely in February due to supply chain disruptions.”