FILE PHOTO: A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. Picture taken June 28, 2017. REUTERS/Darren Whiteside/File Photo
SINGAPORE: Singapore's central bank on Friday loosened its monetary policy, the first such move since 2020, saying it expects inflation and growth to be slower than it initially forecast this year.
The Monetary Authority of Singapore (MAS), which manages monetary policy by targeting the exchange rate rather than interest rates, said it will reduce slightly the slope of the policy band known as S$NEER, or the Singapore dollar nominal effective exchange rate.
