princess_morbucks
14-10-13, 08:42
http://www.businesstimes.com.sg/breaking-news/singapore/mas-stands-pat-monetary-policy-20131014
SINGAPORE'S central bank has kept its monetary policy on hold, keeping the Singapore dollar on an appreciating path to guard against inflation.
As the majority of market economists had expected, the Monetary Authority of Singapore (MAS) said in its twice-yearly monetary policy statement on Monday morning that it would "maintain its policy of a modest and gradual appreciation of the S$NEER band" with no change to the slope, width and midpoint of the band within which the trade-weighted Singapore dollar fluctuates.
"The Singapore economy should continue to expand for the rest of 2013 and into 2014, although some volatility in growth rates is likely. There are short term uncertainties in the external environment, and MAS is closely monitoring economic and financial developments," the central bank said.
"Barring a significant deterioration in global demand conditions, the labour market will remain tight, and exert further upward pressures on MAS core inflation as firms pass on accumulated costs to consumer prices," MAS added.
SINGAPORE'S central bank has kept its monetary policy on hold, keeping the Singapore dollar on an appreciating path to guard against inflation.
As the majority of market economists had expected, the Monetary Authority of Singapore (MAS) said in its twice-yearly monetary policy statement on Monday morning that it would "maintain its policy of a modest and gradual appreciation of the S$NEER band" with no change to the slope, width and midpoint of the band within which the trade-weighted Singapore dollar fluctuates.
"The Singapore economy should continue to expand for the rest of 2013 and into 2014, although some volatility in growth rates is likely. There are short term uncertainties in the external environment, and MAS is closely monitoring economic and financial developments," the central bank said.
"Barring a significant deterioration in global demand conditions, the labour market will remain tight, and exert further upward pressures on MAS core inflation as firms pass on accumulated costs to consumer prices," MAS added.