Singapore is closely monitoring developments in Iran and will reassess its GDP and inflation forecasts if necessary, according to Trade and Industry Minister Gan Kim Yong. Speaking in Parliament, Mr. Gan noted that continued conflict could lead to rising global energy prices, impacting businesses and consumers.
The Monetary Authority of Singapore (MAS) confirmed that currency and money markets are functioning normally, with the Singapore dollar's exchange rate dampening imported inflation. MAS is assessing the impact on the domestic economy and financial system.
Financial analysts suggest a flight to safety, with gold and US Treasuries favored. Oil prices may rise due to potential supply disruptions. Experts advise maintaining a long-term investment perspective, noting that geopolitical events often have temporary market impacts.