Singapore central bank says policy stance appropriate as virus hits economy

But the Monetary Authority Of Singapore, which eased policy for the first time in three years at its last meeting in October, said on Wednesday its key currency gauge had been trading near the top of its policy band, and therefore, has room to depreciate to accommodate any economic hit.

SINGAPORE: Singapore's central bank said its exchange rate-based monetary policy stance remains unchanged and that the currency has room to ease within its current settings amid weakening economic conditions due to the outbreak of the coronavirus in China.

Singapore, which recorded its weakest pace of expansion in a decade last year, has warned that the epidemic will hurt its economic growth this year.