In surprise move, Singapore tightens monetary policy on inflation risks

FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore. REUTERS/Edgar Su/File Photo

SINGAPORE: Singapore's central bank tightened its monetary policy settings on Tuesday in its first out-of-cycle move in seven years, as global supply constraints and brisk economic demand elevate inflation pressures across the region.

The city-state's trade-dependent economy is highly susceptible to swings in global inflation and the central bank's sudden move comes as price pressures ring alarm bells for policymakers elsewhere in Asia.