Singapore’s MAS Holds Policy Stance While Softening Dovish Tone
Bloomberg 53 mins ago Michelle Jamrisko
(Bloomberg) Singapore’s central bank kept its main monetary settings unchanged, while signaling a slightly less dovish tone going forward as it cautiously eyes a brighter recovery from the pandemic.
While repeating its previous guidance that “that an accommodative policy stance remains appropriate,” the Monetary Authority of Singapore statement dropped the phrase “for some time.” It also said it expects economic growth to outpace its earlier expectations and noted a gradual pick-up in inflation.
The MAS, which manages the exchange rate of the local dollar as its main monetary tool, held the slope, width and center of its currency band unchanged Wednesday, as expected in a Bloomberg survey. The slope is currently 0%, a policy that implies the MAS isn’t seeking currency appreciation, which it implemented at the outset of the pandemic last year
Singapore’s MAS Holds Policy Stance While Softening Dovish Tone
Bloomberg 1 day ago Michelle Jamrisko
(Bloomberg) Singapore’s central bank kept its main monetary settings unchanged, while signaling a slightly less dovish tone going forward as it cautiously eyes a brighter recovery from the pandemic.
While repeating its previous guidance that “that an accommodative policy stance remains appropriate,” the Monetary Authority of Singapore statement dropped the phrase “for some time.” It also said it expects economic growth to outpace its earlier expectations and noted a gradual pick-up in inflation.
The MAS, which manages the exchange rate of the local dollar as its main monetary tool, held the slope, width and center of its currency band unchanged Wednesday, as expected in a Bloomberg survey. The slope is currently 0%, a policy that implies the MAS isn’t seeking currency appreciation, which it implemented at the outset of the pandemic last year.