Ravi Menon, managing director of Monetary Authority of Singapore, speaks during an interview in Singapore, on Wednesday, Oct. 26, 2022. According to Menon, Southeast Asia has done a “decent job” of allowing markets to absorb some shocks from an aggressive US monetary tightening while ensuring that currency weakness doesn’t spiral out of control.
Singapore can absorb record inflows of new money, the central bank chief said, allaying concerns of a real estate bubble even as rents and prices surge to unprecedented highs.
The Asian financial hub attracted $448 billion last year, 15.8% higher than the previous year, the latest data from the Monetary Authority of Singapore show.
