According to a statement released by the country's central banker, the Singaporean economy continues to be adversely affected by European concerns. The question now is: just how badly will Europe hurt this important Southeast Asian economy?
As the Monetary Authority of Singapore attempts to slow inflation, growth concerns could be exacerbated going forward. So it has decided to strengthen reserves, as noted in its statement this week : "This is a pre-emptive measure to strengthen the authority's capital and reserves, in light of a volatile financial market environment."
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