The global economy faces mainly four key uncertainties including a downturn next year, according to economic experts in a signal that policymakers will be in firefighting mode for longer.
They listed the severity of the downturn, inflation’s trajectory in the medium term, the impact of geopolitics on markets, and climate risk on portfolios as the main risks to the global outlook.
Singapore, like many economies worldwide, is grappling with inflation that’s yet to peak and a tight labor market that still is creating headaches for businesses short on workers as they emerge from the pandemic.
Medium-term inflation is likely to be higher for longer, rather than recent benign price gains, and the era of cheap money and cheap labor are most likely over, say experts.
Read more