Apr 14 2022, 09:15 AM
https://www.mas.gov.sg/news/monetary-policy...atement-14apr22
QUOTE
15. Barring major dislocations to the global economy, the Singapore economy should grow at an above-trend pace for the second consecutive year in 2022. The output gap will turn slightly positive, with aggregate GDP having fully recovered from the pandemic-induced decline.
16. The fresh shocks to global commodity prices and supply chains are adding to domestic cost pressures, and will bring MAS Core Inflation to a significantly higher level than its historical average through 2022. Underlying inflationary pressures remain a risk over the medium term.
17. MAS has therefore decided to further tighten monetary policy, in two ways. First, MAS will re-centre the mid-point of the exchange rate policy band at the prevailing level of the S$NEER. Second, MAS will increase slightly the rate of appreciation of the policy band to exert a continuing dampening effect on inflation. There will be no change to the width of the policy band.
18. This tighter monetary policy stance, which builds on the policy moves in October 2021 and January 2022, will slow the inflation momentum and help ensure medium-term price stability. MAS will remain vigilant to developments in the external environment and their impact on the Singapore economy.
16. The fresh shocks to global commodity prices and supply chains are adding to domestic cost pressures, and will bring MAS Core Inflation to a significantly higher level than its historical average through 2022. Underlying inflationary pressures remain a risk over the medium term.
17. MAS has therefore decided to further tighten monetary policy, in two ways. First, MAS will re-centre the mid-point of the exchange rate policy band at the prevailing level of the S$NEER. Second, MAS will increase slightly the rate of appreciation of the policy band to exert a continuing dampening effect on inflation. There will be no change to the width of the policy band.
18. This tighter monetary policy stance, which builds on the policy moves in October 2021 and January 2022, will slow the inflation momentum and help ensure medium-term price stability. MAS will remain vigilant to developments in the external environment and their impact on the Singapore economy.
Relates news:
https://www.businesstimes.com.sg/government...monetary-policy
Quote
0.1263sec
0.17
6 queries
GZIP Disabled