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Why property cooling measures were needed

As an essential complement to monetary policy, they contained market bubble: MAS

Published Sun, May 25, 2014 · 10:00 PM
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[SINGAPORE] The property cooling measures adopted by Singapore from 2009-13 - known to economists as "macroprudential measures" - were an essential complement to monetary policy and have succeeded in containing the property market bubble, according to Monetary Authority of Singapore (MAS) managing director Ravi Menon.

However, they were introduced during a "highly unusual situation". As such, they will not be a permanent feature of policy and will only be used from time to time.

Mr Menon was speaking…

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