Singapore central bank says policy stance appropriate as virus hits economy
FILE PHOTO: A Singapore dollar note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo
Singapore, which recorded its lowest growth rate in a decade last year, has warned that China’s coronavirus epidemic which has spread to the island nation will hurt its growth this year. “There is sufficient room within the policy band to accommodate an easing of the Singapore Dollar Nominal Effective Exchange Rate in line with the weakening of economic conditions as a result of the outbreak of the 2019 novel coronavirus in China and other countries, including Singapore,” the MAS said, adding it was responding to media queries about its policies.
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