Expert: U.S. Fed’s rate hike impacts investors’ confidence in financial center

CGTN published this video item, entitled “Expert: U.S. Fed’s rate hike impacts investors’ confidence in financial center” – below is their description.

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Singaporean economist Tan Kong Yam said the U.S. Federal Reserve’s rate hike has put severe pressure on the Singapore dollar and added to inflationary pressures. Amid international concerns, the headline inflation rate in the country hit 5.4 percent in April, the highest in nearly a decade. The expert pointed out that business costs for Singapore’s imports have accelerated as global commodity prices have risen sharply and supply chains have been disrupted, and these costs are ultimately passed on to consumers, which will impact investors’ confidence in Singapore, the financial center.

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About This Source - CGTN

This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster.

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In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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Singapore, officially the Republic of Singapore, is a sovereign island city-state in maritime Southeast Asia.

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