Singapore keeps monetary policy unchanged

The Monetary Authority of Singapore (MAS) on April 12 announced that it has decided to keep its monetary policy unchanged, in line with expectations, as inflation and economic growth in the city-state moderated.

Friday, April 12, 2024 16:46

Singapore keeps monetary policy unchanged ảnh 1

The Monetary Authority of Singapore (MAS) (Photo: MAS)

Singapore (VNA) – The Monetary Authority of Singapore (MAS) onApril 12 announced that it has decided to keep its monetary policy unchanged,in line with expectations, as inflation and economic growth in the city-statemoderated.

MAS said it will maintain the prevailing rate ofappreciation of its exchange rate-based policy band known as the NominalEffective Exchange Rate, or S$NEER.

The width and the level at which the band is centreddid not change.

Singapore's gross domestic product (GDP) rose 2.7% year-on-ear inthe first quarter of this year, according to advance estimates published by thetrade ministry on April 12.

As a heavily trade-reliant economy, Singapore uses aunique method of managing monetary policy, tweaking the exchange rate of itsdollar against a basket of currencies instead of domestic interest rates likemost other countries./.

VNA

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