by winston » Tue Oct 13, 2020 11:44 am
Singapore’s central bank chief said as much as 20% of the city-state’s economy faces “deep scarring” from the coronavirus pandemic
Aviation and tourism industries are a worry, especially with an expected slow recovery in travel, Ravi Menon, managing director of the Monetary Authority of Singapore, said.
Singapore’s trade-reliant economy, already in recession, is facing its worst contraction on record — about 5% to 7% this year.
The government has allocated about S$100 billion ($74 billion) in stimulus to cushion the blow for businesses and help save jobs.
MAS is likely to keep monetary policy unchanged tomorrow as it allows fiscal measures to do the heavy lifting in getting the economy back on track.
Source: OCBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"