Singapore loosens monetary policy, reduces slope of S$ band

  • Business Premium
  • Friday, 14 Oct 2011

SINGAPORE: Singapore on Friday loosened monetary policy by slowing the pace at which it will let its currency appreciate, the central bank said, sending the currency sharply higher.

"MAS will continue with the policy of a modest and gradual appreciation of the Singapore dollar NEER policy band in the period ahead," the Monetary Authority of Singapore (MAS) said in its halfyearly policy statement.

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