News analysis

A carefully calibrated dose of help to address rising food and utilities bills

People are highly sensitive to any increases in cash outlay for necessities such as food, utilities and housing. ST PHOTO: GAVIN FOO
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SINGAPORE - Making headlines over the past week has been the 0.75 percentage point rate hike by the United States Federal Reserve, the biggest increase since 1994. Similar aggressive moves were made in Singapore not too long ago, when the Monetary Authority of Singapore tightened its monetary policy for the third time since October last year.

Hiking rates will cool demand, but will not stop the war in Ukraine, ease supply chains, or rein in the ensuing global rise in oil, gas and food prices now driving inflation.

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