Singapore’s central bank keeps its monetary policy stance unchanged to strengthen the trade-weighted Singapore dollar and combat inflation. The Monetary Authority of Singapore (MAS) expects overall inflation to ease in 2024. It lowers its estimate for overall inflation but keeps core inflation projection unchanged.
Singapore ’s central bank kept unchanged its monetary policy stance that is aimed at strengthening the trade-weighted Singapore dollar to fight still-elevated inflation. While core inflation – which excludes private transport and accommodation costs to better reflect the expenses of local households – has surprised on the upside, the Monetary Authority of Singapore (MAS) expects overall inflation to ease at a faster pace in 2024. It lowered its estimate for overall inflation in 2024 to 2.
5 per cent to 3.5 per cent, down from a previous projection of between 3 per cent and 4 per cent. But it kept its core inflation projection unchanged at an average of 2.5 per cent to 3.5 per cent for 2024. MAS said on Jan 29 that it will maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate (S$Neer) policy band, with no change to the width of the band or level at which it is centred. “Current monetary policy settings remain appropriat
Singapore Central Bank Monetary Policy Inflation Trade-Weighted Singapore Dollar Core Inflation Accommodation Costs Local Households Projection Exchange Rate
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