SGD lower

  • Monetary Authority of Singapore reduces the slope of oits monetary policy band
  • Says no change to width and centre level
  • To continue with modest and gradual appreciation of policy band
  • Revdises headline inflation forecast for 2015 to -0.5% to +0.5%
  • Core inflation forecast for 2015 is +0.5 to +1.5%

Full statement is here

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Note – The SGD is a managed float

The Monetary Authority of Singapore allows the SGD trade – weighted exchange rate to fluctuate within a policy band, the level and direction of which is announced semi – annually