You are here

Why property cooling measures were needed

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

BT_20140526_VKMENON26_1104185.jpg
MAS managing director Ravi Menon (above) explained that attempts to deal with property price run-ups by conventional monetary policy could have backfired. - PHOTO: BLOOMBERG

[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)...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes