Bloomberg News

Singapore Says It Needs to Remain Vigilant Against Inflation

October 11, 2011

Oct. 11 (Bloomberg) -- Singapore said it needs to remain vigilant against a resurgence in inflationary pressures even as it expects price gains to moderate toward the end of 2011.

“A stable Singapore dollar is an anchor of stability for our small, open economy,” the government said in a statement today to elaborate on the plans presented by the city-state’s president in parliament yesterday. “Continued judicious management of the effective exchange rate of the Singapore dollar against a trade-weighted basket of currencies will help dampen inflationary pressures while supporting economic growth in an uncertain and volatile external environment.”

To contact the reporter on this story: Shamim Adam in Singapore at sadam2@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net


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