MNI China Daily Summary: Thursday, December 12

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MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

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MNI: US NOV TREASURY BUDGET -$366.8B

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MAS Upgrades Growth & CPI Outlook

SGD

A raft of comments from the MAS hit the wires, USD/SGD unreactive though and continues to hug a narrow range – the rate last down 1 pip at 1.3452.

  • The MAS is positive on the global recovery and says it may surprise to the upside. The Bank revises CPI forecasts to 1%-2%, and says growth could exceed the upper end of the 4%-6% range.
  • The MAS says it is vigilant to risks of rises in home prices, but doesn't think the property market is overheated right now adding that the property market has been resilient in the face of the pandemic.
  • The central bank also noted that it would conduct more stress tests to assess dividend curbs, and will advise banks soon on the results of this.
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