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Slowing economic growth to contain inflation is easier said than done
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The strategy of slowing growth to contain inflation always carries the threat of pulling the economy into recession.
ST PHOTO: GAVIN FOO
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SINGAPORE - A global economic slowdown is not just a risk anymore, with policymakers expecting tighter financial conditions to dampen growth.
In his remarks made during the Monetary Authority of Singapore’s (MAS) 2021/2022 annual report press conference on Wednesday (July 20), managing director Ravi Menon said that a good scenario as a result of the slowdown is a mild and short-lived global technical recession: Two consecutive quarters of negative growth that tames inflation.
