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[Chief Economist of the Monetary Authority of Singapore:AI Monetary policy may be eased following productivity gains]

Edward Robinson, Chief Economist of the Monetary Authority of Singapore,October 20 said at the Beijing Financial Street Forum that once artificial intelligence delivers broad-based productivity gains, central banks may be able to ease monetary policy; however, at present,AI the investment boom is boosting demand, and policy should remain appropriately restrictive. He noted that AI related investment is driving economic growth, but the technology has not yet delivered significant productivity improvements across the broader economy, and called for a gradual, data-dependent approach. The Monetary Authority of Singapore 2026 year April and July tightened monetary policy due to rising inflation risks,October leaving policy unchanged.October 14 The statement warned that if the AI boom generates broader economic spillovers and raises unit labor costs, domestic inflation could remain elevated. Robinson said that AI-driven electronics accounted for more than 70%of Asia's export growth this year, but growth in industries producing AI-related technologies has mainly resulted from increased investment and more intensive use of existing resources, rather than efficiency gains. Citing OECD estimates, he said that, if adoption is sufficiently widespread and investment is appropriate,AI could increase total factor productivity growth by up to 0.6 percentage points annually.