Singapore’s central bank pledged to safeguard price stability and financial sector resilience while deepening innovation and climate transition efforts, as global uncertainties weigh on growth prospects.
Deputy Prime Minister Gan Kim Yong, who also oversees the Monetary Authority of Singapore (MAS), said in an addendum to the President’s Address that the regulator would maintain its focus on promoting “sustained non-inflationary economic growth” while positioning the city-state as a leading financial hub.
MAS eased monetary policy twice this year as core inflation fell, Gan said, adding the central bank would stay alert to global supply chain disruptions and be ready to respond if cyclical conditions weaken.
The regulator said it would uphold Singapore’s reputation as a trusted financial centre through “robust supervision and risk-proportionate regulation.”
Recent measures against scams include tighter controls on account access, the introduction of “Money Lock” features, and stronger user authentication for digital banking.
MAS has also updated its Fair Dealing Guidelines and rolled out a Basic Financial Planning Guide to bolster consumer education.
On capital markets, Gan said the Equities Market Review Group is preparing recommendations to improve listing quality, investor participation and liquidity, with a final report expected by end-2025.
MAS also pledged to support industry adoption of artificial intelligence through its Financial Sector Technology and Innovation Grant Scheme and the Pathfinder programme, which will share AI use cases and promote responsible deployment.
On digital assets, the regulator said it would back efforts to expand tokenisation of financial transactions, focusing on interoperability, standardised frameworks, and shared settlement facilities.
Climate finance remains a priority. MAS said its Financing Asia’s Transition Partnership (FAST-P) aims to mobilise up to US$5 billion for decarbonisation, including US$500 million in concessional government capital to attract blended finance for sustainable infrastructure.
Gan said MAS would also prepare the workforce for a changing financial landscape, citing the Sustainable Finance Jobs Transformation Map to align skills with industry demand.
“Amid global uncertainty, MAS remains committed to securing medium-term price stability,” he said. “We will continue to stay vigilant to risks and developments in global markets that affect Singapore, and ensure that the financial system remains resilient and competitive.”
