Monetary Authority of Singapore out with annual report 29 June

  • appropriate in view of stable inflation, growth prospects for 2017
  • rise in investment gains in FY 2016/17 due to higher interest and div income, higher realised capital gains and lower valuation provisions
  • downside risks have declined but risks from global economic policy and geopolitical uncertainty persists
  • repeats 2017 core inflation forecast of 1-2%
  • inflationary environment to remain steady
  • not yet time to ease property market cooling measures
  • SGD 21.9bln gain on fx reserves in FY 2016/17

USDSGD steady at 1.3810 after yesterday's fall from 1.3870 into 1.3800