MAS: Currency Appreciation can’t fight against “Wall of Money”

The Monetary Authority of Singapore (MAS) Managing Director Ravi Menon warned that Asia remains vulnerable to a “wall of money”, alluding to the huge inflow of foreign funds that is entering Asia as global investors seek safer havens to park their funds in. Menon conceded that exchange rates alone is not enough to prevent asset bubbles from forming, especially in the property market. He suggest that targeted measures such as limiting credit, preventing access and tax impositions may work

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