Monetary Authority of Singapore tightens policy as expected by slightly raising the rate of appreciation of the SGD NEER policy band, while it made no change to the width and level the band is centred

Says:

• In an appropriate position to respond effectively to any risk in medium-term price stability.
• Stands ready to curb excessive volatility in SGD NEER.
• MAS Core inflation will pick up and remain elevated over next few quarters.
• GDP growth will slow over the course of the year.