Overview

• A Bloomberg survey shows 16 of 20 economists expect the Monetary Authority of Singapore to leave its exchange-rate policy settings unchanged on Oct. 14, with a minority forecasting renewed easing.
• Core inflation has cooled for a second month and authorities expect imported price increases to remain moderate, with 2025 core inflation projected at 0.5% to 1.5%.
• Domestic indicators remain resilient, as August consumer spending exceeded expectations and the manufacturing PMI rose to 56.4 in September for an eighth straight month of expansion.
• External risks have escalated after China imposed new rare-earth export curbs and President Donald Trump announced an additional 100% tariff on China.
• Preliminary third-quarter GDP, due Oct. 14, is expected by analysts to show slower growth than the June quarter, setting the backdrop for near-term policy assessments.