Reuters with the (huge) news out of Singapore's central bank:

  • will re-centre mid-point of SG$NEER policy band up to prevailing level
  • says no change to slope, width of band

Citing:

  • says appropriate to further tighten monetary policy stance to tackle price pressures

More:

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The Monetary Authority of Singapore conduct monetary policy via changes via its SGD exchange rate mechanism. Not through changes to interest rates.

The MAS meet twice a year only, in April and October. Thus this is an out of cycle move, after an unscheduled meeting, and why I said its huge news. A surprise tightening from the Monetary Authority of Singapore.

sgd 14 July 2022