Singapore: 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

March 14, 2008

Preview Citation

Format: Chicago

Singapore: 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2008) accessed November 21, 2024

Summary

Singapore’s recent economic performance has been impressive, underpinned by prudent macroeconomic management. Economic activity remains strong despite a softening in external demand. On the demand side, domestic demand strengthened driven by private consumption and investment while net exports were broadly unchanged during the first half of 2007. It has been noted that the exchange-rate-based monetary policy framework has served Singapore’s small, open economy well. As inflation expectations are well anchored, they agreed that the present monetary policy stance of targeting a gradual nominal effective exchange rate appreciation remains appropriate.

Subject: Balance of payments, Current account balance, Current account surpluses, Foreign exchange, Income, National accounts, Nominal effective exchange rate, Real effective exchange rates

Keywords: CR, Current account balance, Current account surpluses, Exchange-rate-based monetary policy framework, Global, Income, Inflation expectation, ISCR, Monetary policy stance, Nominal effective exchange rate, Real effective exchange rates, Resilience to shock, Singapore dollar, Singapore economy well, Surplus

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/100
Stock No:

1SGPEA2008001
ISBN:

9781451834260
ISSN:

1934-7685

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