Singapore’s central bank eased its monetary policy for the first time in nearly five years, saying economic growth is likely to slow this year and inflation will stay contained.

Singapore on Friday loosened its monetary policy for the first time since 2020, citing a faster than expected decline in inflation and warning about a growth slowdown.

Singapore home prices rose at the same pace as initially estimated in the last quarter of 2024, amid speculation that the government may intervene to cool the market this year.