Singapore flash GDP estimates for Q3, MAS policy decision out on Oct 14

The Singapore Central Business District.
The Singapore Central Business District. PHOTO: ST FILE

SINGAPORE - Advance estimates Singapore's economic growth in the third quarter of this year will be released at 8 am on Oct 14, the Ministry of Trade and Industry (MTI) said on Wednesday (Oct 7).

At the same time, the Monetary Authority of Singapore's (MAS) will announce its semi-annual monetary policy decision.

Analysts are expecting MAS to ease monetary policy - in effect weakening the Singapore dollar - due to the rising risk of a tecnical recession and downside risks to the inflation outlook.

Weak economic data has economists predicting that the economy contracted for the second consecutive quarter in July-September, meeting the technical definition of a recession, after a 4 per cent quarter-on-quarter decline in gross domestic product the three months to June.

MAS surprised investors in January by easing policy in an off-cycle move. It then kept policy unchanged in April.

The MAS manages monetary policy by letting the Singapore dollar rise or fall against the currencies of its main trading partners within an undisclosed trading band based on its nominal effective exchange rate (NEER).