MAS April policy statement.

The Monetary Authority of Singapore adjust monetary policy via managing the exchange rate.

The MAS meet on policy adjustments (or not) only twice a year. April and October.

Policy statement today, tightens:

  • will re-centre the mid-point of the exchange rate policy band at the prevailing level of the s$neer - mas
  • no change to the width of the policy band
  • will increase slightly the rate of appreciation of the policy band to exert a continuing dampening effect on inflation

More:

  • says core inflation is now projected to come in at 2.5–3.5% this year
  • says CPI-all items inflation is forecast at 4.5–5.5%,
  • says GDP growth is expected to come in at 3–5% this year
  • mas says tighter monetary policy stance will slow inflation momentum and help ensure medium-term price stability

MAS is Singapore's central bank.