MAS stands pat on policy, to allow modest, gradual appreciation of Singapore dollar
The Monetary Authority of Singapore, MAS, says it'll maintain its policy of allowing a modest and gradual appreciation of the Singapore dollar as the economy remains healthy while inflation could rise in coming months.
In its half-yearly monetary policy statement, the authority says that the level of economic activity should stay on a broad upward trajectory for the rest of the year.
It expects inflation to pick up in the coming months after easing recently.
MAS said its monetary policy stance is assessed to be appropriate for containing domestic and imported sources of inflation, and ensuring medium-term price stability as a basis for sustainable growth.
The MAS manages monetary policy by letting the local dollar appreciate or depreciate against a trade-weighted basket of currencies of Singapore's major trading partners and competitors.
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