Singapore tightens monetary policy to cool inflation; Q2 GDP up 4.8%

Annual growth projection kept at 3% to 5% amid Ukraine headwinds

20220713 singapore gdp

Singapore's economy is recovering from COVID-19 but faces other pressures, including the impact of the war in Ukraine. © Reuters

TSUBASA SURUGA, Nikkei staff writer

SINGAPORE -- The central bank of Singapore tightened its monetary policy on Thursday in its second out-of-cycle move this year, as the city-state sees inflationary pressure rising on the back of global supply chain disruptions.

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