Monetary Authority of Singapore with an easing of monetary policy
- says will reduce slightly the rate of appreciation of the SGD NEER policy band
- says no change to the width of the policy band and the level at which it is centred
- this measured adjustment to the policy stance is consistent with medium-term price stability, given the current economic outlook
- says core inflation is expected to come in at the lower end of the 1-2% range in 2019, and average 0.5-1.5% in 2020
- says CPI-all items inflation is projected to be around 0.5% this year and average 0.5-1.5% in 2020
- says GDP growth is projected to come in at around the mid-point of the 0-1% forecast range in 2019 and improve modestly in 2020
- says core inflation will remain subdued in the year ahead
A policy easing from the MAS was very much expected. Although this is on the lesser end of what they could have down.