Borrowers may also face a higher debt servicing burden on the back of the tightening in financing conditions, MAS continues.
The Singapore economy is expected to slow to a pace that’s “below-trend” in 2023, warns the Monetary Authority of Singapore (MAS) in its Financial Stability Review (FSR) released on Nov 25.
In the next year, the central bank is also anticipating inflation to remain elevated underpinned by a strong labour market and continued pass-through from high imported inflation.
