Singapore dollar nominal effective exchange rate (S$NEER)

gapore is looking at an 11.8% y-o-y decline in its 2Q20 economic growth

“Safe-distancing measures and weaker labour market will dampen consumer demand, thereby capping prices increases for discretionary goods and services,” note MAS and MTI.

In a one-two punch, Singapore’s central bank last week announced it was easing its exchange-rate based monetary policy.

Analysts at Morgan Stanley have issued a dire warning for the small and open city-state: A full-year GDP contraction is in the pipeline for the first time since 2001.

“Part of the fall in core inflation also reflected the impact of the rebasing of the CPI to 2019 as the base year,” say MAS and MTI.

The coronavirus is likely to hurt Singapore’s further economic growth this year. Already, the city state in 2019 had recorded its lowest growth rate in a decade.

SINGAPORE (Jan 2): Analysts expect a “tepid recovery” for the Singapore economy in 2020, after advance GDP estimates released Thursday pointed to the worst growth performance for the city state since the global financial crisis in 2009.

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SIGNAPORE (Oct 17): Singapore’s non-oil domestic exports (NODX) fell 8.1% year-on-year in September – marking the seventh consecutive month of contraction amid uncertainty surrounding the US-China trade war and slowing global growth.

SINGAPORE (Oct 10): Singapore’s dollar is set to weaken because the central bank is likely to scrap its appreciation bias at a policy meeting next week, according to a growing group of forecasters.