Macroeconomic Forecast Singapore

Inflation is unlikely to be a threat for Singapore over the coming two years. Indeed, our core scenario anticipates slowing growth in key economies including the US, Eurozone and China in H210 and 2011, implying that external demand is likely to be tepid over the time period. Moreover, we expect the SGD to remain relatively well-supported during the projected slowdown in 2011. As such, we expect consumer price inflation to average a mild 2.5% for 2010 and 2011.

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