Officials still cautious on economy in 2023 despite reopening: RHB

The growth could be lower for Singapore compared to market consensus of 5.3%.

Analysts from RHB bank said they are in the same camp with Singapore officials in being cautious on economic stability for China’s growth this year.

“Officials cited that China’s economic growth may be lower as compared to market consensus of 5.3% (RHB’s China’s growth forecast: 4.0%) in 2023,” said RHB bank.

For headline and core inflation, they project that it will be at 5.5-6.5% and 3.5-4.5%, respectively.

RHB Bank said inflation is seen to remain elevated because of supply-push and demand-pull factors.

The central bank is also expected to tighten monetary policy in the April policy review meeting.

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