CORONAVIRUS | It has already signalled a chance of a recession this year and cut its growth forecasts.
| Singapore is edging towards its first full-year recession in nearly two decades as neighbouring Malaysia's travel ban cuts off a key source of labour and the coronavirus pandemic hits the economy, firming the case for the central bank to loosen policy.
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. Starting Wednesday, Malaysia is stopping citizens from travelling overseas and visitors from entering the country until March 31 to help stop the spread of the coronavirus.
While Erman Tan, the head of a chemicals plant, says four of his Malaysian staff are staying back in Singapore for the duration of the ban, he is still bracing for a slowdown in production as he expects disruption in raw material supply from the neighbouring country.
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