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Singapore tightens monetary policy amid steady growth outlook

Singapore economy

Singapore tightens monetary policy amid steady growth outlook

Bloomberg Published on Fri, Oct 12, 2018 / 10:01 AM GMT+8

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SINGAPORE (Oct 12): Singapore’s central bank tightened monetary policy for a second time this year, encouraged by steady economic growth despite worsening US-China trade tensions.

The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, raised the slope of its currency band slightly, it said in a statement on its website on Friday. That implies it will seek an appreciation in the currency. Just over half of the 21 economists surveyed by Bloomberg predicted the move, with the rest expecting no change.

The Singapore dollar gained less than 0.1% to 1.3758 against the US currency as of 8.02 am on Friday.

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Singapore tightens monetary policy amid steady growth outlook

Singapore economy

Singapore tightens monetary policy amid steady growth outlook

Primary tabs

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Singapore tightens monetary policy amid steady growth outlook

Singapore economy

Singapore tightens monetary policy amid steady growth outlook

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