MAS keeps currency policy unchanged to fight elevated inflation

MAS' decision to stand pat was widely expected after core inflation in February shot up more than expected. — The Straits Times

SINGAPORE: Singapore’s central bank has kept unchanged its monetary policy stance aimed at strengthening the trade-weighted Singapore dollar to fight still-elevated inflation.

The Monetary Authority of Singapore (MAS) said yesterday that it would maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, with no change to the width of the band or the level at which it is centred – parameters that indicate how high and how fast the central bank wants the currency to appreciate.