Singapore\u2019s advance Q3 GDP grew 5.4% year on year, above the 5.1% Bloomberg consensus, and eased from an upwardly revised 6.2% in Q2 (previously 5.9%). Growth was described as broad-based, with full-year expansion tracking near the upper end of the government\u2019s 4.5\u20135.5% forecast and the possibility of another upward revision in November. The outlook points to solid momentum over the next few quarters on AI-related demand and capacity expansion, before moderating in H2 2027.<\/p>\n\n
On policy, the Monetary Authority of Singapore left settings unchanged, contrary to expectations for a modest tightening. The decision keeps the Singapore dollar nominal effective exchange rate appreciation path unchanged, and was framed as a pause rather than a shift towards easing.<\/p>\n\n
In markets, USD\/SGD was little changed after the GDP and policy updates, hovering around 1.2800.<\/p>\n\n\n\n