Singapore’s Leader Warns of Persistently High Inflation, Interest Rates

Singapore’s Prime Minister Lee Hsien Loong said the “world is not likely to return anytime soon to the low inflation levels and interest rates” that the city-state enjoyed in recent decades. Photo: Bloomberg

(Bloomberg) — With inflation and interest rates set to stay high, Singapore is prepared to increase support measures to help deal with the increased cost of living, Prime Minister Lee Hsien Loong said.

“The world is not likely to return anytime soon to the low inflation levels and interest rates that we have enjoyed in recent decades,” Lee said in a televised message Monday on the eve of the country’s National Day. “I know the cost of living is at the top of everyone’s minds.”