The decision was widely expected after core inflation in February shot up more than expected.
SINGAPORE - Singapore’s central bank kept unchanged its monetary policy stance aimed at strengthening the trade-weighted Singapore dollar to fight still-elevated inflation.
“MAS core inflation is likely to remain elevated in the earlier part of the year, but should decline gradually and step down by Q4, before falling further next year,” the central bank said in its monetary policy statement on April 12. The MAS decision also comes on the heels of hotter-then-expect inflation in the United States. The data hasThe European Central Bank on April 11 also held its policy stance unchanged. But EBC president Ms Christine Lagarde in her comments to the press kept alive hopes of a possible rate cut in June.
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