Singapore slump - Monetary Authority of Singapore  to lower SGD before October?

Author: Eamonn Sheridan | Category: Central Banks

Economic growth in Singapore was taken to the woodshed in Q2:

Leading me to mull on a likely easing from the MAS come their next meeting in October:
As I said in that post, an easing from the MAS means they will act to lower the SGD exchange rate (that's how they ease in SG, not through interest rates).  In octo October 'cause that is when the central bank next meets on policy (twice a year in SG, April and October ).

But …  via an analyst in Asia (ING) … a heads up that just maybe we'll get an intra-meeting easing:
  • MAS (Monetary Authority of Singapore) Managing Director, Mr Ravi Menon, noted that there was possibly a case for an intra-meeting change in the MAS policy stance. 
  • unless this happens soon, for example, this or next month, then the MAS might as well wait for October.  
  • Today's data suggest that waiting would put the economy in greater than necessary jeopardy. An imminent move, therefore, looks probable.   


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