More on Singapore's monetary policy tightening today, for the 4th time this year

The post is here from earlier on the move from the Monetary Authority of Singapore today:

• Singapore central bank will re-centre the mid-point of S$NEER band up to prevailing level

A snippet from ING, tipping further tightening:

• The Monetary Authority of Singapore (MAS) tightened policy further today, the 4th time this year and the fifth since they began to tighten last October. Soaring inflation has called the MAS into play since late 2021 and they have been quite busy ever since.
• The MAS opted to re-centre the currency band to prevailing levels but kept the slope and the width of the band unchanged. We had expected a more aggressive move, but Singapore's central bank believes that today’s move will build on past tightening carried out since October 2021 to reduce imported inflation and curb domestic cost pressures. However, given the outlook for inflation, the MAS will at least need to retain its hawkish tone until price pressures finally show signs of moderating.

Gave the SGD a boost:

The Monetary Authority of Singapore conduct monetary policy via changes via its SGD exchange rate mechanism. Not through changes to interest rates.

The MAS meet twice a year only, in April and October. We have had moves from the MAS outside these months in 2022 though.