Singapore eases monetary policy as virus slams economy


Singapore’s economy has suffered its worst contraction since the global financial crisis in the first quarter as the coronavirus pandemic escalated. – AFP pic, March 30, 2020.

SINGAPORE’S central bank eased monetary policy today as the city-state, seen as a bellwether for the health of global trade, heads for a deep recession due to the coronavirus pandemic.

The easing echoes moves made by other countries and comes after data last week showed the city-state suffered its sharpest contraction in the first quarter since the global financial crisis.


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