SINGAPORE: Singapore's central bank on Wednesday kept its monetary policy settings unchanged in a surprise move.
All 10 analysts polled by Reuters had expected the Monetary Authority of Singapore to tighten monetary policy as robust growth and inflation risks had bolstered the case for another such move.
The central bank said it would maintain the prevailing rate of appreciation in its exchange rate-based policy band known as the Singapore dollar nominal effective exchange rate, or S$NEER.
There would be no change to the width of the policy band or the level at which it is centred, it said.
"The current appreciating policy band will allow the S$NEER to continue to strengthen and lean against the anticipated near-term rise in imported inflation, ensuring the gradual easing of inflationary pressures in 2027," the MAS said in a statement.
The central bank surprised markets in July by "very slightly" tightening policy, adding to a similar move in April this year.
Preliminary government data earlier on Wednesday showed the economy grew 5.4% in the third quarter of 2026 from the same period last year. - Reuters
