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Jul 18, 2024 · Securitisation, which involved shifting assets off balance sheets, inadvertently led to the creation of even greater risks that were packaged into toxic instruments that brought down a number of large financial institutions. In Singapore, however, the risks of the U.S. housing market collapse and consequent mortgage and financial institution default were largely moved out of the banking sector ...
By the third quarter of 2008, the banking crisis in the United States (US) and its ripple effects had greatly stressed the Singapore economy, causing it to be the first country in East Asia to succumb to recession. It was hailed as Singapore’s worst ever recession.
In 1997, during the Asian Financial Crisis, though Singapore was not spared from the financial contagion, we were much less affected than our neighbouring countries. Similarly, Singapore was able to draw on its reserves during the global financial crisis in 2008.
- What Could Cause A Recession?
- Will A Recession Happen in Singapore in 2023?
- Recession, Stagflation: What’s The difference?
- What Are The Consequences of A Recession?
Analysts said that one of the factors to watch for is a sharp decline in global demand. Ms Selena Ling, head of treasury and research at OCBC bank, said that other key drivers that could cause a recession include the Russia-Ukraine war, China's strict zero-Covid-19 regime, elevated energy prices, global supply chain bottlenecks and tensions between...
The analysts said that a recession happening in the next year is unlikely. Dr Chua said: "Our Singapore recession model, which is based on the US’ three-month to 10-year yield spread, suggests that the probability of a recession over the next 12 months is only about 6 per cent." The US yield spread or term spread is defined as the difference betwee...
Ms Ling warned that there is a growing risk of stagflation as growth momentum is slowing and inflation remains elevated and persistent. Stagflation, which the world has not seen since the 1970s' oil shock, happens when economic stagnation and inflation combines and it is a situation where an economy faces the twin challenges of slow economic growth...
Analysts told TODAY that one indicator that could signal that a recession is coming up is the global energy bill. Mr Aw said: "In the past, whenever the world energy bill is above around 7 per cent to 8 per cent of gross domestic product (GDP) for a year, a recession tends to follow in the next one to two years." Other warning signs include sharp a...
- Kimberly Lim
Aug 24, 2022 · Central to the evolving risks to the outlook are developments in China, Singapore’s largest trading partner, as well as global economic fragmentation arising from the war in Ukraine. Given Singapore’s strong economic recovery and rising inflation, the ongoing policy normalization across all the policy pillars remains appropriate.
May 5, 2022 · SINGAPORE: Even as the global economy recovers from a historic recession brought on by the COVID-19 pandemic, concerns are already being raised about the next downturn.
Nov 27, 2023 · Singapore warns on risks, weaknesses to global financial stability. Deepening debt, elevated rates, geopolitical tensions and a slowing Chinese economy were all cited in Singapore’s annual...
