Ravi Menon: Three new drivers of asset markets

Opening remarks by Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, at the Investment Management Association of Singapore (IMAS)-Bloomberg Investment Conference, Singapore, 9 March 2023.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
13 March 2023
by Ravi Menon
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  |  11 pages

Ms Jenny Sofian, Chair of IMAS
Mr Steven Yankelson, Head of ASEAN for Bloomberg
Ladies and gentlemen, good morning

I am happy to join you at this annual conference in-person this year. Congratulations Jenny on your appointment as Chair of IMAS.  IMAS has been working closely with MAS, to grow green finance, develop talent, and digitalise the asset management industry.  We look forward to further strengthening this productive partnership.

The investment business has never been more interesting – if by interesting we mean dealing with new uncertainties and unknowns.  Let me highlight three key uncertainties that will drive financial market returns and risks:

  • over the short term: inflation
  • over the medium term: geo-economic fragmentation
  • over the long term: climate change