| Reuters March 12, 2007 SINGAPORE SINGAPORE'S economy is expected to grow by 5.4 percent in 2007, below the top end of the government's official growth forecast of 6.5 percent, Singapore's central bank said in a survey of economists on Monday, March 12. The Monetary Authority of Singapore said in its survey of professional forecaster that economists had upgraded their forecast from 5.2 percent in December last year. Singapore's government expects the economy to expand by between 4.5 percent and 6.5 percent this year. For 2008, respondents to the central bank survey forecast growth of around 5.5 percent. Economists also expect easing interest rates in the city-state, with the three-month interbank rate falling to 3.2 percent by the end of this year from 3.44 percent at the end of last year. The Singapore dollar is expected to appreciate against the US dollar to S$1.50 by December 2007. |
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