The Monetary Authority of Singapore (MAS) announced a further easing of its monetary policy as the country braces for zero economic growth in 2025.

This follows a weaker-than-expected GDP growth of 3.8% in the first quarter, below economists’ forecast of 4.3%.

The Ministry of Trade and Industry (MTI) also cut its 2025 GDP forecast to 0%–2%, from the earlier 1%–3%, citing weaker global demand affecting key sectors like manufacturing and financial services, which make up around 31% of GDP.