You are here
Daily Debrief: What Happened Today
Property cooling measures are unlikely to be unwound this year, given that interest rates are expected to stay low for a longer time amid greater uncertainties arising from the "Brexit" vote.
There will be one-tenth fewer certificates of entitlement (COEs) from next month onwards, as less deregistrations and more revalidations combined to reduce the supply of COEs.
Bank regulation has made good progress since the global financial crisis and implementation of the reforms to strengthen banking resilience and financial stability has been generally good, but some areas need more work and some jurisdictions need to close the gaps.
Singapore will be building a fifth desalination plant, on Jurong Island, in order to reduce its dependence on weather for water supply as climate change brings about changes in weather patterns.
Singapore's economy is expected to have grown at a tepid pace in the second quarter and the combination of a strong currency and free-falling consumer prices could force the central bank to ease monetary policy further.
China has no legal basis to claim "historic rights" to islands in the South China Sea, an international tribunal ruled on Tuesday in a bitter dispute that risks stoking further tensions in Southeast Asia.
The STI Today
The Straits Times Index (STI) ended 2015 at 2,882 but has risen above that level only once since, and even then it stayed there for only 10 trading sessions from April 13-26.