Singapore Keeps Monetary Policy Tight as Price Risks Linger
- Keeps current rate of appreciation of the S$NEER policy band
- Policy decision comes alongside data showing slower 1Q growth
The Monetary Authority of Singapore.
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Singapore’s central bank kept its monetary policy unchanged for a fourth straight time on still-elevated price pressures, a decision seen by some economists as indicative that tight settings will probably stay in the months ahead.
The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool rather than interest rates, said in a statement on Friday that it maintained the slope, width, and center of the currency band as expected by all 20 economists in a Bloomberg survey. That will keep the local dollar on an appreciating path to blunt imported inflation.