Singapore’s budget for the upcoming fiscal year contained a number of giveaways designed to boost support for the government ahead of elections, which must be held by November. In terms of the macroeconomic impact, the overall budget surplus is projected to be unchanged at 0.9% of GDP. With the slowing economy unlikely to get any support from fiscal policy, the onus will be on the Monetary Authority of Singapore to support demand.
Meanwhile, Korea is the country in Asia most vulnerable to US tariffs on imports of automobiles. However, there are reasons to think the economic impact may not be that significant. Finally, the Bank of Korea is likely to resume its monetary easing cycle by cutting the policy rate by 25bps at its scheduled meeting on Tuesday.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services