As an essential complement to monetary policy, they contained market bubble: MAS
Mon, May 26, 2014 - 6:00 AM
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)...