No change to monetary policy: MAS

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The S$ will remain strong...

No change to monetary policy: MAS

SINGAPORE — The Monetary Authority of Singapore (MAS) this morning announced it will maintain its policy of a modest and gradual appreciation of the S$NEER (Singapore Dollar Nominal Effective Exchange Rate) policy band.

The MAS said in a statement this morning that with the Singapore economy projected to “grow modestly for the rest of the year and into 2014 as the external environment continues to improve” — notwithstanding intermittent turbulence in financial markets — “there will be no change to the slope of the policy band, and the level at which it is centred”.

The central bank added: “The present width of the band is sufficient to accommodate temporary fluctuations in the S$NEER, and will be kept unchanged. This policy stance is assessed to be appropriate, taking into account the balance of risks between external demand uncertainties and rising domestic inflationary pressures.”
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http://www.todayonline.com/business/no-c...policy-mas
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