Singapore’s MAS holds policy stance while softening dovish tone

While repeating its previous guidance that “that an accommodative policy stance remains appropriate, ” the Monetary Authority of Singapore (MAS) statement dropped the phrase “for some time.” It also said it expects economic growth to outpace its earlier expectations and noted a gradual rise in inflation

SINGAPORE: Singapore’s central bank kept its main monetary settings unchanged, while signalling a slightly less dovish tone going forward as it cautiously eyes a brighter recovery from the pandemic.

While repeating its previous guidance that “that an accommodative policy stance remains appropriate, ” the Monetary Authority of Singapore (MAS) statement dropped the phrase “for some time.” It also said it expects economic growth to outpace its earlier expectations and noted a gradual rise in inflation.