Photographer: Lauryn Ishak/Bloomberg Singapore’s central bank signaled more stimulus will be needed as the economy emerges from the worst downturn since the country’s independence more than a half-century ago. Photographer: Lauryn Ishak/Bloomberg Photographer: Lauryn Ishak/Bloomberg Singapore’s recovery from the coronavirus recession is likely to be “gradual and uneven,” with firms and households restraining spending and a recent bounceback in industrial output likely to taper off in coming months, the central bank said. […] Firms and households will continue to be restrained by income loss and increased uncertainty, and will therefore hold back on investment and discretionary spending.” […] Accommodative monetary and fiscal policy will bolster economies this year and monetary policy should remain lenient in coming quarters, while countries’ fiscal policies are likely to turn contractionary next year, the MAS said. […] Significant downside risks to the global outlook remain, such as waves of new infections, U.S.-China tensions and mistimed policy tightening, the MAS said.
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