By Fiona Chan and Robin Chan

THE worst is over for Singapore's economy, but a decisive rebound is not on the cards, said the Monetary Authority of Singapore on Wednesday.

'After the steep plunge in Q4 last year and Q1 this year, the most intense phase of this downturn has probably already taken place,' said the central bank in its semi-annual macroeconomic review

But it added that 'the climb from the trough will likely be slow, gradual and fraught with uncertainties'.

For more The Straits Times stories, click here.