Economics
Singapore Tightens Monetary Policy on Steady Growth Outlook
- Central bank raises slope of currency band for second meeting
- Global growth seen as ‘resilient’ amid trade frictions
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Singapore’s central bank tightened monetary policy for a second time this year, encouraged by steady economic growth despite worsening U.S.-China trade tensions.
The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, raised the slope of its currency band slightly, according to a statement on its website Friday. That implies it will seek an appreciation in the currency. Just over half of the 21 economists surveyed by Bloomberg predicted the move, with the rest expecting no change.