MAS, MTI to review 1-3% growth forecast for 2016

THE Monetary Authority of Singapore (MAS) said on Monday that it, together with the Ministry of Trade and Industry (MTI), is reviewing the 1-3 per cent growth forecast for Singapore's economy this year.

Inflation, which has been low for long, is on a modest ascent, said MAS's managing director Ravi Menon at a press briefing. MAS has kept its forecast for consumer price index (all-items inflation) at -1 per cent to 0 per cent for 2016.