Singapore named Chia Der Jiun as chief of its central bank on Monday, replacing Ravi Menon, the city state's longest-serving central banker, the Monetary Authority of Singapore (MAS) said.
Menon, who turns 59 this year, had been re-appointed as recently in May for two more years in his role but will retire from public service after more than a decade at the central bank, MAS said.
Chia, a permanent secretary at Singapore's manpower ministry, had previously spent 18 years at the MAS and led major functions from implementing monetary policy to managing reserves.
Singapore's central bank was one of the earliest to tighten monetary policy as the country of 5.6 million exited the COVID-19 pandemic.
Regardless of who is at the helm the independence and high standing of the central bank is unlikely to change," said OCBC economist Selena Ling.
Persons:
Chia Der Jiun, Ravi Menon, Menon, Chia, Selena Ling
Organizations:
Monetary Authority of Singapore, MAS
Locations:
Singapore