SINGAPORE – The fallout from the Ukraine war is boosting inflation and bleeding economies worldwide, which in turn has dampened trade-driven Singapore’s growth outlook while threatening to send living costs sky high.
Unfortunately, the way to tame inflation before it becomes entrenched is to allow the cost of borrowing to rise, usually seen as a growth-busting option.
source https://netdace.com/latest-news/ukraine-war-will-hurt-singapores-economic-growth-but-not-all-is-lost/