Singapore keeps monetary policy unchanged

Singapore

The Monetary Authority of Singapore (MAS) has kept monetary policy unchanged for its third consecutive meeting.

The central bank, which uses the exchange rate as its main policy tool, said in its monetary policy statement that it had maintained the “prevailing rate of appreciation” of the currency band. The width of the band and the level at which it is centred were also unchanged.

The MAS said core inflation, which excludes costs of accommodation and private transport, is likely to remain

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