Singapore's central bank leaves exchange-rate policy unchanged
The Monetary Authority of Singapore decided to keep its current exchange-rate based monetary stance, maintaining the existing appreciation rate and band parameters.
On Wednesday, the Monetary Authority of Singapore announced that it would not adjust its monetary policy. The central bank will continue the present pace of Singapore dollar nominal effective exchange rate appreciation, with no alteration to the band’s width or its midpoint. Analysts had largely expected a tightening move, but the MAS chose to hold steady.
Why it matters
The decision signals Singapore's assessment of inflation and growth, affecting regional investors and trade.
How the sides frame it
HIGH AGREEMENTBoth camps report that Singapore's central bank left policy unchanged, noting that analysts had expected a tightening move.
CENTER
Center coverage frames the story around analysts' expectations of a modest tightening and the inflation and growth context, while noting the decision to hold policy steady.
RIGHT
Right-leaning coverage frames the story as MAS choosing to keep policy unchanged despite analysts' expectations of tightening.
The right emphasises
- MAS announced no adjustment to the exchange-rate policy
- analysts had largely expected a tightening move
- MAS chose to hold steady
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