Monetary Authority of Singapore  leaves currency policy unchanged

Author: Eamonn Sheridan | Category: Central Banks

The MAS is Singapore's central bank

Monetary policy in Singapore is conducted through adjustment to exchange rate policy. Left unchanged, which was the central expectation. 
  • Width of policy band for the SGD, slope of appreciation, currently zero %, central rate ... all left as is
  • MAS assesses that an accommodative policy stance will remain appropriate for some time
  • says  this will complement fiscal policy efforts to mitigate the economic impact of covid-19 and ensure price stability over the medium term
  • says  both MAS core inflation and CPI-all items inflation are forecast to come in between −0.5 and 0% in 2020
  • in 2021, core inflation will average 0–1%, while headline inflation is projected to be between −0.5 and 0.5%
  •  negative output gap will narrow as most sectors recoup their pre-covid levels by the end of next year

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