Menon: ‘Too early’ to ease macro-prudential policies
Monetary Authority of Singapore releases annual report for 2013–14
It is "too early" for the Monetary Authority of Singapore (MAS) to ease its macro-prudential policies, managing director Ravi Menon said today, despite "some indications" the property market is stabilising.
The central bank has introduced a host of measures over the past few years in an attempt to reverse the phenomenal rise in house prices, which have increased by 60% since 2010.
Though they appear to be working – prices have actually fallen by 3.3% in the past three quarters – MAS remains
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