While global crude oil prices have risen in recent weeks, they are still close to the average in 2024. Meanwhile, food commodity price increases should stay contained.

The International Monetary Fund estimates that a 10 per cent rise in oil prices lowers global gross domestic product (GDP) growth by 0.1 to 0.2 percentage point.

It was also the lowest level that yields have hit in the year to date and marked the seventh consecutive issuance since Mar 26 for which yields have declined.

The latest forecast is also shy of the higher end of the zero per cent to 2 per cent range projected by the Ministry of Trade and Industry (MTI) in April.

Eligible Pioneers will receive enhanced annual top-ups ranging from $300 to $1,200 in July, up from $250 to $900 in 2024.

Analysts said this suggests that the front-loading of orders that propped up exports in April has cooled, and the trade outlook remains rife with tariff uncertainty.

By the end of the year, Mr. Stanley expects consumer prices to accelerate to a 3 percent annual pace, as measured by the Consumer Price Index, with big increases in June and July.

About nine in 10 households received between $100,000 and $300,000 in proceeds, the spokesperson said. 

Individuals aged 65 and above can do so when they apply for a DBS or OCBC credit card from June 11, while UOB plans to implement the policy in the near future.

As the entities operating the two platforms do not hold the requisite licence, they are prohibited from carrying out such businesses, said the MAS and the police.

It was the lowest level that yields have hit in the year to date and marked the sixth consecutive issuance since Mar 26 for which yields have declined.

Three-month MAS bills offer yield of about 13 basis points over similar-tenor US government debt when currency-hedging costs are taken into account