Singapore eases monetary policy in response to economic slowdown

SINGAPORE: The Monetary Authority of Singapore (MAS) announced on Friday a slight easing of its monetary policy, marking the first adjustment in two years.

The MAS stated it will reduce the slope of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy band slightly while maintaining both the width of the policy band and its central level. This decision was made in response to a slowdown in Singapore's economic growth momentum and a faster-than-expected moderation in core inflation this year.

The MAS projects core inflation, which excludes accommodation and private transport costs, to average between 1% and 2% in 2025. Meanwhile, CPI-All Items inflation is expected to average between 1.5% and 2.5%.

By RSS/Xinhua