A pedestrian walks along the pier at the near-empty Merlion Park waterfront in Singapore earlier this month. Photo: Bloomberg

Singapore’s central bank in unprecedented easing action as deep recession looms

  • The move by the city state’s central bank comes as policymakers worldwide step up efforts to limit the economic damage from the fast spreading virus
  • It reduced the slope of the currency band to zero starting at the prevailing level of the nominal effective exchange rate of the Singapore dollar
Topic |   Singapore
A pedestrian walks along the pier at the near-empty Merlion Park waterfront in Singapore earlier this month. Photo: Bloomberg
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