The Managing Director of the Monetary Authority of Singapore, Chia Der Jiun, delivered a speech at the UBS Asian Investment Conference, Singapore Wealth Edition, on 25 May 2026, highlighting the resilience of the global economy amidst recent energy shocks and the ongoing AI investment boom. Chia noted that despite a significant energy supply shock, with oil prices surging over 40% above pre-war levels, global markets have shown remarkable buoyancy.
Chia explained that the energy shock’s impact was mitigated by factors such as increased swing production from the US, strategic reserve releases, and demand moderation measures. However, he warned that these buffers are not sustainable in the long term, especially if tensions in the Strait of Hormuz persist.
The speech also touched on the positive momentum in global growth, driven largely by the AI boom. Chia highlighted that AI-related investments have significantly contributed to US GDP growth and stock market gains, with similar trends observed in Asia, particularly in Taiwan and Korea. He cautioned, however, about the sustainability of this boom, citing potential risks such as rising costs and regulatory interventions.
Chia emphasised Singapore’s position as a trusted financial centre, attributing its stability to a transparent legal framework and a pro-business environment. He underscored the importance of maintaining a skilled workforce and a balanced regulatory approach to ensure continued growth and resilience in the face of global uncertainties.
