Singapore’s Central Bank Posts Record Loss of SGD 30.8 Billion due to Aggressive Monetary Policy
Singapore’s central bank, the Monetary Authority of Singapore (MAS), announced that it incurred its largest net loss of SGD 30.8 billion (USD 22.8 billion) in the 2022-2023 financial year. The loss was primarily attributed to the aggressive tightening of monetary policy implemented by MAS to combat inflation. The bank’s Managing Director, Ravi Menon, stated that…
