MAS aims for stronger Singapore dollar to resist inflation
Faster appreciation needed due to “rapidly accumulating” inflationary pressures, authority says
The Monetary Authority of Singapore tightened policy today (January 25) in response to “rapidly accumulating” inflationary pressures.
The MAS chose to “slightly” steepen the rate at which it allows the Singapore dollar nominal effective exchange rate to rise. This has been rising gradually since October, when the authority moved from a neutral policy to a slow appreciation. Even so, the exchange rate remains below its pre-pandemic level.
Today’s policy statement noted a “further upward shift
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