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Singapore names Deputy Prime Minister Lawrence Wong as chairman of the central bank - TL;DR CNBC

Singapore names Deputy Prime Minister Lawrence Wong as chairman of the central bank

Publishing timestamp: 2023-07-03 01:06:47


Summary

The Monetary Authority of Singapore has named Lawrence Wong, the country's deputy prime minister and finance minister, as the chairman of its board of directors. Wong will replace Tharman Shanmugaratnam, who held the role for 12 years. Wong will serve as chairman until May 31, 2026. The article also mentions the challenges Singapore faces in setting its government budget and the possibility of entering a technical recession. Despite the economic slowdown, Barclays does not expect the central bank to make changes to its monetary policy. The Straits Times index saw a slight increase after the announcement.


Sentiment: NEUTRAL

Tickers: .STI

Keywords: central bankingsingaporebusiness newsasia economystraits times index

Source: https://www.cnbc.com/2023/07/03/mas-names-lawrence-wong-as-chairman-of-board-directors.html


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