Singapore: 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2008/100, IMF Staff Country Reports from International Monetary Fund

Abstract: Singapore’s recent economic performance has been impressive, underpinned by prudent macroeconomic management. Economic activity remains strong despite a softening in external demand. On the demand side, domestic demand strengthened driven by private consumption and investment while net exports were broadly unchanged during the first half of 2007. It has been noted that the exchange-rate-based monetary policy framework has served Singapore’s small, open economy well. As inflation expectations are well anchored, they agreed that the present monetary policy stance of targeting a gradual nominal effective exchange rate appreciation remains appropriate.

Keywords: ISCR; CR; surplus; Singapore economy well; Singapore dollar; inflation expectation; resilience to shock; monetary policy stance; exchange-rate-based monetary policy framework; Current account surpluses; Income; Real effective exchange rates; Current account balance; Nominal effective exchange rate; Global (search for similar items in EconPapers)
Pages: 33
Date: 2008-03-14
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Citations: View citations in EconPapers (6)

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