Dr Aurobindo Ghosh, Program Director at the Sim Kee Boon Institute for Financial Economics at SMU commented on Singapore's inflation as it continues to climb with housing and transport costs topping the increase. He said: "Increase of liquidity is not necessarily a way of generating more growth if the banks are not lending enough to each other then it is very difficult even with more liquidity to keep control on inflation because inflation is related to more liquidity in the market as well."


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