0958 GMT - The takeaway from Singapore's 3Q GDP release and MAS meeting could be summed up as: better growth, lower inflation and steady policy. DBS economists and strategists lift 2024-2025 real GDP growth forecasts for Singapore to 3.5% and 2.8%, respectively, from 2.7% and 2.5%. Electronics will likely remain the key growth driver for manufacturing but with downside risk, they say. MAS expects inflation to keep easing into 2025, and DBS's forecasts are in line with authorities' updated projections for 2024-2025. They see no immediate need for the central bank to alter the appreciation pace of its SGD NEER policy band. The timing of easing the appreciation pace in 2025 will hinge on inflation's progress back into a historically comfortable range, Philip Wee and Chua Han Teng say. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
October 14, 2024 05:59 ET (09:59 GMT)
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