Economy outlook and inflation: Interview with Ms Lim Xiu Ru

26 Apr 2023

Interview highlighted the MAS report on Singapore’s pessimistic economic outlook and projected downward trend, as well as a drop in core inflation rate. SP’s School of Business lecturer Lim Xiu Ru noted that in order to project whether core inflation is set to decrease significantly, we would need to study the month-on-month and year-on-year trend in inflation rate. She added that governments of developed countries are aware of the possibility of a shrinkage in economic growth, and are taking measures to slow down – in Singapore, MAS has not further tightened Singapore’s monetary policy and aims to limit core inflation between 3.5 to 4.5 points. On Singapore's interest rate for loans, Ms Lim opined that as we are affected by movements from other countries, a relaxation in previous efforts to tighten monetary policies worldwide will result in a trend of lower interest rates for both consumers and businesses. On the expected increase in COE prices, Ms Lim opined that this will inevitably put pressure on those who are looking to buy a vehicle in the short term.

[Channel 8]