Singapore central bank leaves width of policy band, centre point unchanged
Singapore central bank left its width of policy band and centre point unchanged, assessing that a neutral policy stance will be needed for an extended period to ensure medium-term price stability.
Additional headlines via Reuters:
Singapore's economy shrank 1.9 percent in the first quarter (Reuters survey of a contraction of 1.9 percent )
From the previous three months on an annualised basis (In the fourth quarter GDP had jumped 12.3 percent quarter-on-quarter.)
Weighed by contractions in manufacturing and services
Singapore central bank MAS will therefore maintain the rate of appreciation of the S$NEER policy band at zero percent
Width of the policy band and the level at which it is centred will be unchanged
Assesses that a neutral policy stance will be needed for an extended period to ensure medium-term price stability
Current policy band provides some flexibility for the s$neer to accommodate the near-term weakness in inflation and growth
Core inflation is projected to average 1-2%, compared to 0.9% in 2016
Says CPI-all items inflation is expected to rise to 0.5-1.5% from −0.5% last year
Singapore's central bank is the Monetary Authority of Singapore (MAS)
Author
Ivan Delgado
Independent Analyst
Established in the Asian continent since 2009, Ivan studied a degree in Business at the University Pompeu Fabra (Barcelona), while also earning a postgraduate degree in Business Administration.
