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Singapore's domestic credit demand slowing down: RHB

Singapore economy

Singapore's domestic credit demand slowing down: RHB

Samantha Chiew Published on Mon, Dec 04, 2017 / 4:10 PM GMT+8

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SINGAPORE (Dec 4): Singapore’s money supply (M3), including Asian currency units, slowed to +6.1% y-o-y in October, dragged by moderating public and private demand for credit, compared to +6.4% in the previous month, according to RHB.

Public and private demand for credit also slowed to +17.5% and +4.8% y-o-y, from +18% and +5.5% respectively the month before.

Meanwhile, net foreign position growth improved, cushioning some of the downside.