The Monetary Authority of Singapore (MAS) on Friday tightened its policy stand by re-centering the mid-point of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy band up to its prevailing level, leaving the slope and width of the policy band unchanged.
This was the fourth time for the MAS to consecutively tighten the monetary policy this year, but the move was not as aggressive as widely expected.
The Global Economics and Markets Research team of UOB (United Overseas Bank) said in a report that the majority of market consensus had expected a further rise in the slope of the policy band beforehand.—APP
