MAS to Forbes: Singapore no credit bubble.

[BuiKia]

Singapore is not facing a credit bubble that puts the country or the banking system at any risk of crisis, the Monetary Authority of Singapore said in a statement on Tuesday evening.

Responding to media queries on the issue of a credit bubble, MAS added: "Serious observers and investors are not in doubt about the country's financial health."

An online article in Forbes published on Monday suggests that household debt has ballooned in Singapore, due to ultra-low interest rates. The growth in Singapore's credit bubble is linked to soaring property prices, the article said. Singaporeans are going into debt to invest in property or buy more expensive houses than they can afford.

MAS said that "it is clear that unusually low global interest rates have stimulated credit growth and an increase in property prices in recent years, in Singapore and some other economies that had recovered from the global crisis. That is why the government and MAS have taken decisive steps to cool property demand and prevent excessive leverage."

 

[AhMeng]

Singapore is not facing a credit bubble that puts the country or the banking system at any risk of crisis, the Monetary Authority of Singapore said in a statement on Tuesday evening.

Responding to media queries on the issue of a credit bubble, MAS added: "Serious observers and investors are not in doubt about the country's financial health."

An online article in Forbes published on Monday suggests that household debt has ballooned in Singapore, due to ultra-low interest rates. The growth in Singapore's credit bubble is linked to soaring property prices, the article said. Singaporeans are going into debt to invest in property or buy more expensive houses than they can afford.

MAS said that "it is clear that unusually low global interest rates have stimulated credit growth and an increase in property prices in recent years, in Singapore and some other economies that had recovered from the global crisis. That is why the government and MAS have taken decisive steps to cool property demand and prevent excessive leverage."

When it burst, see who has the last laff

 

[tonychat]

Singapore is not facing a credit bubble that puts the country or the banking system at any risk of crisis, the Monetary Authority of Singapore said in a statement on Tuesday evening.

Responding to media queries on the issue of a credit bubble, MAS added: "Serious observers and investors are not in doubt about the country's financial health."

An online article in Forbes published on Monday suggests that household debt has ballooned in Singapore, due to ultra-low interest rates. The growth in Singapore's credit bubble is linked to soaring property prices, the article said. Singaporeans are going into debt to invest in property or buy more expensive houses than they can afford.

MAS said that "it is clear that unusually low global interest rates have stimulated credit growth and an increase in property prices in recent years, in Singapore and some other economies that had recovered from the global crisis. That is why the government and MAS have taken decisive steps to cool property demand and prevent excessive leverage."

you believe their shit??? when got people say that they are bad when millions of $ are at stake...

 

[BuiKia]

CB, they decided to cool only after local make noise and very pissed loh.

MAS said that "it is clear that unusually low global interest rates have stimulated credit growth and an increase in property prices in recent years, in Singapore and some other economies that had recovered from the global crisis. That is why the government and MAS have taken decisive steps to cool property demand and prevent excessive leverage."

 

[AhMeng]

wait till de-globalisation happens...see who die first

 

[Seee3]

wait till de-globalisation happens...see who die first

I think we die before de-globisation. Human race is addicted to the exploitation of cheap labour through globisation, I.e having slaves without bring them home, with the exception of this country. This modern form of slavery is too good to miss or stop. But all good things must come to an end. I guess some drastic will happen, more likely to be caused by working class who keep losing their job , leading to civil unrest. A new kind of "Arab spring",

 

[laksaboy]

Singapore is showing all the symptoms of a bubble economy. As the saying goes, if it looks like a duck, swims like a duck, and quacks like a duck...

Being in denial does not help. One can only hope that the powers-that-be have some backup plan, some sort of insurance to soften the landing when the shit hits the fan.

 

[SgGoneWrong]

I think we die before de-globisation. Human race is addicted to the exploitation of cheap labour through globisation, I.e having slaves without bring them home, with the exception of this country. This modern form of slavery is too good to miss or stop. But all good things must come to an end. I guess some drastic will happen, more likely to be caused by working class who keep losing their job , leading to civil unrest. A new kind of "Arab spring",

Sinkies are ball-less. What arab spring?

 

[AhMeng]

Sinkies are ball-less. What arab spring?

Sinkies only got lanjiao which are still in "spring"

 

[SgGoneWrong]

Ah tiongs and ah nehs already led the way to strikes and riots but sinkies also proved that they are ball-less. Only got guts to kpkb online and kopitiams.