MAS eases S’pore dollar policy to help economy weather Trump’s tariff storm | Hong Kah North MP Amy Khor to retire from politics

Plus: Ong Beng Seng to step down as managing director of Hotel Properties | If this e-mail is not displayed properly, click here. MONDAY, APR 14 2025 Nikki Diane De Guzman Assistant Newsletter Editor The Ministry of Trade and Industry has cut Singapore's growth forecast for 2025 to 0 per cent to 2 per cent in the face of a US-China tariff war, with some economists warning of a possible technical recession this year. Also today, the Monetary Authority of Singapore further reduced the pace of the local currency's trade-weighted appreciation in response to easing inflation and rising risks to economic growth. In other news, a total of 58 reported fires were linked to power banks between 2019 and 2024, with 2024 seeing the highest number of such incidents ever at 13. For the latest news, download the ST app on your iOS or Android devices. Business S'pore downgrades 2025 GDP forecast as US-China tariff war weighs on global growth MTI's new forecast is a downgrade from the 1 per cent to 3 per cent range previously. Business MAS eases S'pore dollar policy to help economy weather Trump's tariffs MAS also lowered its core inflation forecast to average 0.5 per cent to 1.5 per cent in 2025. Singapore Hong Kah North MP Amy Khor to retire from politics The single seat in Hong Kah North has been dissolved for the upcoming election. Business Ong Beng Seng to step down as managing director of Hotel Properties He is set to plead guilty in a court case linked to former transport minister S. Iswaran. Singapore 13 fires linked to power banks in 2024, a 5-year high: SCDF There were also 10 such fires in 2023, as well as 11 each in 2021 and 2022. Singapore ROM, ROMM to begin Saturday solemnisations at Esplanade Mall interim site The current premises at Fort Canning Rise are undergoing redevelopment. Asia China's Xi urges stronger trade ties with Vietnam amid US tariff tensions The Chinese President said the two countries should strengthen cooperation in production and supply chains. Singapore Fences to be erected at 9 more locations by 2026 to prevent vehicular-wildlife collisions The fences will go up along major roads near the Bukit Timah and Central Catchment nature reserves. Singapore Jail for clinic assistant who replaced payment QR code with hers, cheating 509 patients of $55k She gambled away the money on an unlicensed gambling website, said the prosecutor. Life The Snackpacker's Guide: 10 Japanese snacks under 500 yen worth buying to take home Make space in your luggage for snacks such as conveniently packaged cream cheese desserts. If you received this newsletter from someone, sign up here to get daily updates right in your inbox! If you have any feedback, please drop us an e-mail at st-newsletters@sph.com.sg Sign up for more free newsletters from The Straits Times here. Manage subscription here.