MAS surprises consensus by holding currency band
The Monetary Authority of Singapore (MAS) has adopted a hawkish stance on inflation by not changing the slope, width and centre of its currency band – its primary policy tool – according to its October 12 monetary policy statement. The Singapore dollar is managed against a basket of major trading currencies within an undisclosed policy band, which is reviewed to ensure that it remains consistent with the underlying fundamentals of the economy.
The move to hold the Singapore dollar nominal
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