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Bank of Singapore: Expect two more Fed rate hikes this year

The decline in the US unemployment rate to the Fed’s medium-term forecast of 4.5% has significant implications for monetary policy, most notably the normalisation of rates to “neutral” levels, says Bank of Singapore, which expects policies to be tightened in coming quarters. Yet, the bank’s chief economist, Richard Jerram, says wage growth and inflation are only lifting gradually, “which means…

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