Economics
Singapore Allows Currency to Gain in Gradual Tightening Move
- GDP rose 4.3% in first quarter from year ago, report shows
- Majority in Bloomberg survey predicted MAS would tighten
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Singapore’s central bank made a measured change to policy, allowing its currency to strengthen in the face of solid economic growth, while also acknowledging mounting risks from a U.S.-China trade war.
The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, increased the slope of the currency band slightly from zero percent, it said in a statement on its website. That was in line with the forecasts from the majority of economists in a Bloomberg survey.