Singapore Cuts CPI Forecast

Singapore’s central bank lowered its inflation outlook for the year on Tuesday but said it was concerned about household debt levels as interest rates looked set to rise.

The Monetary Authority of Singapore (MAS) revised downwards its inflation forecast for 2013 to 2-3 percent from an earlier 3-4 percent, citing the sharp fall in car prices earlier this year as well as a slower rise in accommodation costs.

Economic growth this year will “comfortably” meet the official forecast of 1-3 percent, the central bank added, citing the strengthening U.S. economy and Japan’s expansionary policies that will likely offset headwinds from a slowdown in China and easing public spending in some Southeast Asian countries.


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