At its biannual policy meeting held on 14 October, the Monetary Authority of Singapore (MAS) decided to reduce the slope of the Singapore dollar (SGD) trading band, with no change to the width of the band or the level at which it is centred. The move represents a slightly looser policy and follows April's decision to re-centre the SGD policy band upwards, with the slope and width of the band unchanged. Monetary authorities recognized that economic activity has lost steam in recent months, ?weighed down by supply-side disruptions arising from the earthquake in Japan and, more recently, by faltering global demand.? Moreover, the MAS stated that ?growth in the Singapore economy could fall below its potential rate of 3-5%. Thus, core inflation should ease next year, although headline inflation could stay elevated in the near term, reflecting the higher imputed rental cost of owner-occupied housing.?
Singapore Monetary Policy
MAS reduces appreciation slope of the Singapore dollar
October 14, 2011
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Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.