PETALING JAYA: The ringgit has become an unwitting casualty of Singapore’s surprise easing of its tightly controlled monetary policy, as the country joined a growing list of central banks around the world taking extraordinary steps in shoring up faltering economic growth as inflation slows.
The Monetary Authority of Singapore (MAS) yesterday, in an unscheduled statement, said that it was slowing the appreciation of the Singapore dollar because its inflation outlook had “shifted significantly” since its last review in October 2014.