Singapore eases monetary policy for first time in 3 years

by VTV415 October 2019 Last updated at 10:12 AM

People walk past office buildings at the central business district in Singapore April 14, 2015. (Photo: REUTERS/Edgar Su)
People walk past office buildings at the central business district in Singapore April 14, 2015. (Photo: REUTERS/Edgar Su)

VTV.vn - Singapore has moved to loosen its monetary policy for the first time in three years to help offset the slowing economic momentum due to the prolonged U.S.- China trade tensions.

The Monetary Authority of Singapore intends to take measures to allow a weaker Singapore dollar. Instead of using interest rates, Singapore manages monetary policy by allowing the local currency value to rise or fall against a basket of currencies by major trading partners. Singapore's economy is growing slowly and is forecast to reach only 0.5% this year and 1.5% in 2020.

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