Cautious MAS maintains zero appreciation policy


An uncertain outlook for the global economic recovery led Singapore's central bank to maintain the neutral policy stance it has had in place since October 2008.

"Against continuing weakness and uncertainties in the external economic environment, the strength of the recovery in the Singapore economy is expected to be moderate beyond the initial uplift," the central bank said, adding it would maintain the current policy stance of a zero percent appreciation of Singapore dollar's nominal exchange

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