The central bank, which manages its policy through exchange rate settings, said it would raise slightly the slope of its currency policy band, from 0% previously.
SINGAPORE: Singapore’s central bank unexpectedly tightened its monetary policy yesterday, delivering its first such move in three years, amid mounting cost pressures caused by supply constraints and a recovery in the global economy.
The city-state joined a group of economies globally that have begun to dial back heavy pandemic-era monetary stimulus, as the threat of inflation outweighs the growth risks posed by the coronavirus.
