REUTERS/Edgar Su/File Photo
SINGAPORE: Singapore's central bank loosened its monetary policy for the second time this year on Monday, as had been expected, saying prospects for global growth and trade have dimmed, and the Trade Ministry cut its growth forecast for the city-state.
The Monetary Authority of Singapore said it will slightly reduce the prevailing rate of appreciation of its exchange rate-based policy band known as the Nominal Effective Exchange Rate, or S$NEER.
