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14 Apr 2015
MAS keeps slope, width and centre of S$NEER band unchanged
FXStreet (Bali) - Singapore Central Bank (MAS) has decided to keep the slope, width and centre of S$NEER policy band unchanged.
Monetary policy notes - MAS
The Singapore economy is evolving as envisaged in the January MPS. GDP is on track to grow at 2–4% in 2015, and there is no change to the forecasts for CPI-All Items inflation and MAS Core Inflation. External price pressures should be contained, while domestic cost pass-through to consumer prices is expected to be moderate this year. Beyond the near term, underlying cost and price pressures could pick up, given the continued tightness in the labour market.
MAS will therefore maintain the policy of a modest and gradual appreciation of the S$NEER policy band. There will be no change to the slope and width of the policy band, and the level at which it is centred. This policy stance is consistent with the benign inflation outlook and moderate growth prospects for the whole of 2015, and appropriate for ensuring medium-term price stability in the economy.
Monetary policy notes - MAS
The Singapore economy is evolving as envisaged in the January MPS. GDP is on track to grow at 2–4% in 2015, and there is no change to the forecasts for CPI-All Items inflation and MAS Core Inflation. External price pressures should be contained, while domestic cost pass-through to consumer prices is expected to be moderate this year. Beyond the near term, underlying cost and price pressures could pick up, given the continued tightness in the labour market.
MAS will therefore maintain the policy of a modest and gradual appreciation of the S$NEER policy band. There will be no change to the slope and width of the policy band, and the level at which it is centred. This policy stance is consistent with the benign inflation outlook and moderate growth prospects for the whole of 2015, and appropriate for ensuring medium-term price stability in the economy.