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MAS stays pat on policy of gradually rising Singapore dollar

Published on Apr 14, 2014 8:00 AM
 
The Monetary Authority of Singapore said on April 14, 2014, that it would maintain its monetary policy stance of a "modest and gradual appreciation" of the Singapore dollar against the currencies of its main trading partners, even as it lowered its forecast for this year's inflation. -- ST FILE PHOTO: KEVIN LIM

SINGAPORE - The Monetary Authority of Singapore (MAS) said on Monday it would maintain its monetary policy stance of a "modest and gradual appreciation" of the Singapore dollar against the currencies of its main trading partners, even as it lowered its forecast for this year's inflation.

In its semi-annual monetary policy review, the central bank said this stance is "appropriate" for keeping both domestic and imported inflation in check.

It will also help ensure stable prices in the medium-term as a basis for sustainable growth, the MAS added.

The central bank also cut its forecast for inflation this year to between 1.5 and 2.5 per cent, from its previous tip of between 2 and 3 per cent.

 
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