It comes as Putrajaya's movement control order affects 300,000 Malaysians working in the island city. FMTNews Putrajaya Singapore
Tens of thousands at the causeway linking Johor and Singapore trying to beat a travel ban deadline on Malaysians travelling out of the country.
Most economists have cemented their expectations for the Monetary Authority of Singapore to ease policy at its review scheduled for April, with some now even raising the possibility of the central bank stepping in early. MAS manages policy through exchange rate settings, rather than through the conventional interest rates, letting the Singapore dollar rise or fall against the currencies of its main trading partners within an undisclosed policy band.
“It represents quite a big blow to services and SMEs , which rely on labour force from across the causeway,” said Prakash Sakpal, an economist with ING. Singapore is also set to unveil a second economic package to help businesses and workers, adding to the stimulus announced in the budget last month, which an economist said would be “more effective” than monetary action in the near term.
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