The Monetary Authority of Singapore raised the appreciation slope of the S$NEER policy band for the first time since October 2022 and lifted its 2026 core inflation forecast to 2.5-3.5%. The move aims to dampen the pass-through of surging energy and import costs from the Iran war. BT reports economists are split on whether further tightening will follow, with some expecting another move in October.

Singapore's economy grew 4.6% year-on-year in Q1 2026, below forecasts and down from 5.7% in Q4 2025. On a quarter-on-quarter seasonally adjusted basis, GDP shrank 0.3%. Economists largely hold full-year estimates in the 2.5-3.5% range but flag rising downside risks, with the chemicals sector bearing the brunt so far. MAS warned the energy shock could spill over into property, F&B, and the labour market.

MOM and NTUC jointly released studies showing 19.4% of Singapore's resident workforce holds qualifications above what their jobs require. About 90% chose to be in those roles voluntarily, citing factors like flexible hours and interest in the work. Business and administration graduates form the largest share of overqualified workers.

Enterprise Singapore opened its fourth US office and first non-coastal hub in Austin, Texas, to help Singapore firms expand into the US tech and energy ecosystem. DPM Gan Kim Yong, speaking at the opening, warned against the global drift toward economic insularity, saying Singapore must deepen ties with trusted partners. The Austin centre marks the 60th anniversary of Singapore-US diplomatic relations.

Indonesia and the United States signed a new defence cooperation agreement, described by the US as a significant upgrade in bilateral ties. The partnership covers capacity building, next-generation defence technology, and education. ST analyses what Jakarta hopes to gain, including access to advanced US defence systems and a stronger bargaining position amid rising regional tensions.

PM Wong spoke with Brunei Sultan Hassanal Bolkiah to strengthen energy cooperation and supply chain resilience amid the Middle East conflict. The call underscores Singapore's diplomatic push across ASEAN to secure essential supplies. Separately, Singapore urged ASEAN to accelerate ratification of the ASEAN Petroleum Security Agreement and the upgraded ASEAN Trade in Goods Agreement.

Minister Indranee Rajah called for a fundamental rethink of how Singapore structures work, retirement, and social support to serve a society where people routinely live past 80. She said fresh ideas are needed to help people navigate multiple life transitions rather than following a linear school-work-retire path. SMU is setting up a new research institute focused on super-ageing transformation.

The IMF, World Bank and International Energy Agency issued a joint call urging nations to stop hoarding energy supplies and restricting exports, warning that such actions are worsening the global energy crunch triggered by the Iran war. The appeal came as the IMF prepared to release downgraded global growth forecasts.

China's exports slowed sharply in March as the Middle East conflict triggered energy and shipping disruptions that dampened global demand. Imports, however, surged as China stockpiled commodities. The data underscores how the war's economic shock is now feeding through to the world's second-largest economy.

Hoi Hup Realty submitted the highest bid of S$340.9 million ($732 per square foot per plot ratio) for the Miltonia Close executive condominium site in Yishun, beating two other bidders. It is the first EC site released in the Yishun area since 2020. Developers are expected to maintain a selective bidding approach as the supply pipeline builds.