Singapore dollar set to stay on 'modest and gradual appreciation' path: MAS
The Monetary Authority of Singapore (MAS) has made no change to its monetary policy, maintaining its current stance of a "modest and gradual appreciation" in the Singapore dollar.
It also said it expects overall inflation this year to come in at the upper half of the forecast range of 2 to 3 per cent.
In its latest policy review released on Monday morning, the central bank said this stance is "assessed to be appropriate, taking into account the balance of risks between external demand uncertainties and rising domestic inflationary pressures".
It expects the Singapore economy to expand for the rest of this year and into 2014, "although some volatility in growth rates is likely".