Expectations still mixed on likelihood of monetary easing in July as core inflation holds steady

[SINGAPORE] Economists are split on whether Singapore’s central bank will further ease monetary policy at its next meeting on Jul 30, after the latest core inflation data came in lower than expected.

June’s core inflation, which excludes accommodation and private transport, remained unchanged at 0.6 per cent year on year, according to data from the Singapore Department of Statistics (SingStat) on Wednesday (Jul 23).

The figure was lower than private-sector economists’ median forecast of 0.7 per cent, according to a Bloomberg poll.