Monetary Authority of Singapore kept the prevailing rate of appreciation of the SGD NEER policy band, as well as made no change to the width and level the band is centred, as expected

• Output gap will be positive for the year as a whole.
• Growth this year is expected to remain resilient.
• Expects 2026 GDP growth to ease Y/Y.

The Monetary Authority of Singapore's decision to keep the SGD NEER policy band unchanged suggests continuity in its monetary policy stance, aligning with market expectations. The commentary on a positive output gap and resilient growth indicates confidence in the economy, but the expectation of easing GDP growth in 2026 signals potential challenges ahead. This could affect investor sentiment on SGD and broader regional growth projections.