Singapore’s bank loans in January were down from a year earlier for the fourth consecutive month, but OCBC economist Selena Ling says loans may be stabilising.
She points to 0.1% increases from December in both total bank loans and business loans as indicators of stability.
Central-bank data released earlier Monday showed bank loans at $600.20 billion in January, down from the year-earlier $607.47 billion but up from the month-earlier $599.76 billion.
But even if the total stabilises around $600 billion, Ling says, “it may be too premature to call for the light at the end of the tunnel for year-on-year bank-loans growth.”
OCBC forecasts bank loans will range between flat and down 2% in 2016.
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She points to 0.1% increases from December in both total bank loans and business loans as indicators of stability.
Central-bank data released earlier Monday showed bank loans at $600.20 billion in January, down from the year-earlier $607.47 billion but up from the month-earlier $599.76 billion.
But even if the total stabilises around $600 billion, Ling says, “it may be too premature to call for the light at the end of the tunnel for year-on-year bank-loans growth.”
OCBC forecasts bank loans will range between flat and down 2% in 2016.
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