Singapore MAS widen policy band for FX flexibility

- Central Banking staff
- 10 Oct 2001

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SINGAPORE - The Monetary Authority of Singapore said Wednesday 10 October it has decided to widen its policy band to allow a greater flexibility in managing the exchange rate, as it expects more volatility in financial markets.

But despite the sharper-than-expected downturn in the Singapore economy, the central bank appears to refrain from shifting to a loosening policy bias - as expected by some market observers - from its neutral stance.

"The widened policy band will continue to be centered on a

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