Singapore's money supply growth to moderate to 5.6% this year

Money supply has significantly outpaced loan growth.

RHB Research noted that money supply (M3), including Asian currency units (ACU), has grown at an average pace of +8.2% in the three months to January, doubling its pace of increase for the corresponding period last year. The increase has been led by the private sector.

“Looking ahead, we expect M3 growth to moderate to +5.6% in 2017, as M3 has outpaced loan growth significantly recently. The figure represents an increase from its +4.2% gain last year. Meanwhile, bank lending is projected to grow 3.2% this year, from +0.5% in 2016, supported by a low base effect and higher economic growth,” said RHB.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley