Singapore tightens monetary policy to ward off inflation
Singapore's central bank on Thursday announced a surprise tightening of monetary policy to curb inflationary pressures amid robust economic growth.
By Agencies |
SINGAPORE: Singapore's central bank on Thursday announced a surprise tightening of monetary policy to curb inflationary pressures amid robust economic growth.
The Monetary Authority of Singapore (MAS) warned that "the balance of risks is weighted towards inflation going forward", after the government said the economy was on track to expand between 13 and 15 percent this year.
Singapore's monetary policy is conducted via the local currency, which is traded against a basket of currencies of its major trading partners within an undisclosed exchange rate band.
The MAS said "the slope of the policy band will be increased slightly" which essentially means authorities will allow the Singapore dollar to appreciate.
"The policy band will at the same time be widened slightly in view of the volatility across international financial markets," it said.
The Monetary Authority of Singapore (MAS) warned that "the balance of risks is weighted towards inflation going forward", after the government said the economy was on track to expand between 13 and 15 percent this year.
Singapore's monetary policy is conducted via the local currency, which is traded against a basket of currencies of its major trading partners within an undisclosed exchange rate band.
The MAS said "the slope of the policy band will be increased slightly" which essentially means authorities will allow the Singapore dollar to appreciate.
"The policy band will at the same time be widened slightly in view of the volatility across international financial markets," it said.
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