Monetary Authority of Singapore tightens monetary policy

MAS April policy statement. The Monetary Authority of Singapore adjust monetary policy via managing the exchange rate. The MAS meet on policy adjustments (or not) only twice a year. April and October. Policy statement today, tightens: will re-centre the mid-point of the exchange rate policy band at the prevailing level of the s$neer – masno change to the width of the policy bandwill increase slightly the rate of appreciation of the policy band to exert a continuing dampening effect on inflation More: says core inflation is now projected to come in at 2.5–3.5% this yearsays CPI-all items inflation is forecast at 4.5–5.5%,says GDP growth is expected to come in at 3–5% this yearmas says tighter monetary policy stance will slow inflation momentum and help ensure medium-term price stability MAS is Singapore's central bank.