MAS keeps monetary policy on hold for fifth time in a row

SINGAPORE: The Monetary Authority of Singapore ( MAS ) kept its monetary policy unchanged on Friday ( Jul 26 ), in line with expectations.

This is the second day the main bank has maintained plan for a while in a row. This year, MAS began making monthly economic policy claims available. Before the change, it normally issued statements half a year, in April and October.

In Friday’s monetary policy statement, MAS said it would maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate&nbsp, ( S$ NEER ) &nbsp, policy band. The singer’s center and length may remain unchanged.

Reuters had polled 10 researchers, and nine expected MAS to keep policy intact.

Singapore’s economic plan is based on exchange rates, rather than involvement charges like in other countries. The S$ NEER group, which is not officially disclosed, allows the Singapore dollars to rise or fall against the assets of the country’s major trading partners.

It may change the hill, mid-point and length of the group when adjusting policy.

MAS next tightened plan in October 2022, when it re-centred the mid-point of its channel.