Economy tipped to shrink 6% this year

Private sector economists made a further cut to their 2020 forecast for Singapore's economy but turned more bullish about the strength of a recovery next year.

Private-sector economists tip S'pore economy to shrink by 6% this year, but worst quarter may be over: MAS survey

SINGAPORE - Private-sector economists have lowered their full-year 2020 forecast for Singapore's economy, but they turn more bullish over the strength of a recovery next year and suggest the worst...

MAS commits $250m to boost innovation, tech in financial sector

The Monetary Authority of Singapore (MAS) is stepping up its support for fintech here.

MAS: Digital, data connectivity key to cross-border trade

Cross-border trade could benefit from deepening digital and data connectivity, said Singapore's central bank chief yesterday.

Singdollar deposits hit new high, with banks reporting that customers are saving more

SINGAPORE - Retail deposits in Singapore have grown by up to 40 per cent at two local banks amid economic fall-out due to the Covid-19 outbreak, compared with a year ago, as more bank customers...

MAS sees challenges and opportunities for financial industry

Singapore's financial industry should be able to operate effectively through the pandemic and prepare itself for new challenges and opportunities in the post-Covid-19 world, the central bank said...

Consumer loans see record fall in March on virus fallout

CONSUMER loans registered its sharpest fall on record over a big shrinkage in unsecured personal loans in March, fresh data from the Monetary Authority of Singapore (MAS) showed on Thursday.

Covid-19 will hit wages more than jobs; retail, F&B, recreation sector workers most at risk of layoffs: MAS

Some companies affected by the Covid-19 fallout could also ask employees to take pay cuts, and bonuses could also be reduced in some sectors.

MAS eases some capital requirements for banks, but says no share buybacks

THE Monetary Authority of Singapore (MAS) has loosened certain capital and liquidity requirements for banks amid the virus outbreak, but with a clear caveat: that the release of capital buffers...

SMEs wait for banks' next move, with rise in government's risk share for loans

THE government will further raise its risk-share of several enterprise loans, as it pulls out all the stops to enhance financing support so that "viable businesses" can continue to have access to...

MAS advises banks on extra measures amid virus outbreak

SINGAPORE'S central bank has asked financial institutions here to take additional measures and precautions after the Government raised the alert level on the coronavirus outbreak.