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Falling retail sales mount pressure on MAS to ease monetary policy
Economy boosts may come in April meeting.
BBVA noted the increased pressure for MAS to prop up the economy through policy easing as Singapore’s January retail sales dipped more than expected, falling by 2.0% y/y in January (consensus: -0.1% y/y) as demand for food and telecommunications weakened.
"With the economy remaining weak, the focus is gradually turning to the Monetary Authority of Singapore, which holds its semi-annual policy meeting in mid-April, and whether the MAS will loosen monetary policy in order to support the economy," said BBVA.
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