Singapore’s central bank decided to keep its monetary policy unchanged on Friday.
The Monetary Authority of Singapore said it will maintain the rate of appreciation of the S$NEER policy band at zero percent. The bank also retained the width of the policy band and the level at which it is centred.
This policy stance was assessed to be appropriate in light of the moderate outlook for growth and inflation, the bank said.
The MAS applies the exchange rate against a basket of currencies within an undisclosed band as its monetary policy tool. The central bank holds monetary policy meeting twice a year.
The bank forecast the city-state economy to grow at the upper half of the 2-3 percent range in 2017.
In 2018, economic growth is expected to remain firm though it could moderate from this year.
Headline inflation is expected to come in at around 0.5 percent this year, and stay in the range of 0-1 percent in 2018. MAS core inflation is likely to be stable in the near term.
The material has been provided by InstaForex Company – www.instaforex.com