The Swans were unable to hold on against the Reds despite coming from behind to level twice in a thrilling game.
The result saw the Merseyside giants keep pace with the likes of Chelsea and Arsenal – who both also won over the weekend – to stay within four points of the summit.
Although murmurings from the Liverpool camp have suggested that a top four finish is the aim – for which they are six points clear of fifth placed Tottenham – Monk feels that the side now managed by his former boss, Brendan Rodgers, can compete for the trophy:
“You come here against a team who are pushing for the league title and to come their ground and give them such a good game, to be in it right to the end, shows how well we’ve done,” he is quoted as saying after the game by BT Sport.
“Why can’t they win it? They’re up there and it’s not out of their grasp.
“They’ve got the players to do it. With the strikeforce they have and the attacking players, there will always be goals in them.”
Daniel Sturridge and Jordan Henderson both netted twice to hand Liverpool a vital win, while Swansea’s goals came courtesy of Jonjo Shelvey and Wilfied Bony – who scored twice.