M'sian ringgit hit by S'pore easing monetary policy

CIMB Investment Bank head of interest rates and foreign exchange strategy Suresh Kumar Ramanathan (inset pic) said the fall in the ringgit was mainly a knee-jerk reaction to MAS

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.