Singapore's monetary policy stance remains appropriate, the city-state'...
SINGAPORE - Singapore’s monetary policy stance remains appropriate, the city-state’s central bank’s chief said on Wednesday, in comments that follow a disappointing run of recent economic data.
“Our monetary policy remains appropriate,” Monetary Authority of Singapore’s managing director, Ravi Menon said at Citi’s annual Asia Pacific conference on Wednesday. The MAS, which manages policy through changes to the exchange rate rather than interest rates, tightened monetary settings at both of its semi-annual meetings last year. Its policy announcement last April was its first monetary policy tightening in six years.“Two months is a long time, so we will see how it looks like then,” Menon added. “We are also watching how the data pans out”.
“If you look at the current situation, it’s not very different to what we had expected in October,” Menon said. He termed the latest core inflation number as “well within the range” and “pretty well behaved”.
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