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It’s a hallmark in history. Lee Kuan Yew’s hard work and legacy for Singapore will continue to be a source of inspiration to many.According to a report by Macquarie Securities, in 1960, the first full year that LKY was Singapore’s prime minister, the city-state’s per capita GDP was US$428. By the time he left the PM’s office in late-November 1990, the island republic’s per capita GDP had increased almost 30-fold (29.8-fold to be more precise) in 30 years – to US$12,766. It was one of the most remarkable transformations -- and among the outstanding achievements -- in modern economic history. LKY stayed in government as Senior Minister and Minister Mentor for a further 20.5 years (until May 2011); during those two decades, Singapore’s per capita GDP increased another 4-fold to US$53,177 (in 2011) – for a spectacular 124-fold increase over 51 years. As the visionary founding leader of Singapore, LKY was instrumental in that transformation.

And orchid named after LKY.

But a pullback is expected today.

Thanks to a narrowing price gap.

Interbank rates have risen by 60bps.

Private expenditure might take a hit.

Australia, Europe and Japan are key investment markets.

Singaporeans are more upbeat about personal finances.

To refinance existing loans.

An ageing population could undermine growth.

Finance is the brightest spot.

The market is still very cautious.

It overshot expectations by 2.8pp last quarter.

MAS’ policy settings still on hold in April.

And Singapore looks beyond LKY's authoritarian legacy.

But a pullback is expected today.