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Monetary Authority Of Singapore Monetary Policy Statement
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Monetary Authority Of Singapore Monetary Policy Statement
mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
Monetary Authority Of Singapore Monetary Policy Statement
mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
<h2>INTRODUCTION</h2>
<p>1. <span>In October 2022, MAS tightened its monetary policy for the fifth consecutive time within 12 months. The mid-point of the Singapore dollar nominal effective exchange rate (S$NEER) policy band was re-centred up to the then-prevailing level of the S$NEER near the top of the band. There was no change to the slope and width of the band. Although Singapore’s GDP growth was expected to slow, MAS had assessed that a further tightening of monetary policy was needed to help dampen still-elevated inflation and ensure medium-term price stability.</span></p>
<h2>INTRODUCTION</h2>
<p>1. <span>In its July 2022 Monetary Policy Statement, MAS re-centred the mid-point of the Singapore dollar nominal effective exchange rate (S$NEER) policy band up to the then-prevailing level of the S$NEER. There was no change to the slope and width of the band. While Singapore’s growth momentum was expected to slow, MAS had assessed that it was prudent to tighten monetary policy further and lean against price pressures becoming more persistent. This was its fourth tightening move since October 2021.</span></p>