MAS tightens policy again to fight inflation

Singapore's central bank tightened monetary policy again to counter inflation, although the move was not as aggressive as had been widely expected.

The Monetary Authority of Singapore also said on Friday that core inflation should come in at around 3.5 to 4.5 per cent over 2023, and headline inflation at 5.5 to 6.5 per cent. These figures take into account the impact of the increase in GST, which will go up by 1 percentage point in 2023.

The MAS has tightened monetary policy five times since October 2021.