k00L
14-04-14, 13:22
Implication is SOR fixing rate should continue to fix lower than Sibor rate
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From channelnewsasia
MAS to allow modest, gradual appreciation of Singapore dollar
14 Apr 2014 8:20
SINGAPORE: The Monetary Authority of Singapore (MAS) said on Monday it will maintain its policy of allowing a modest and gradual appreciation of the Singapore dollar as the economy remains healthy while inflation could rise in coming months.
"Notwithstanding the weak growth outturn in Q1, the level of economic activity should stay on a broad upward trajectory for the rest of the year," the MAS said in its half-yearly monetary policy statement.
It added that inflation is expected to pick up in the coming months after easing recently.
The MAS manages monetary policy by letting the local dollar appreciate or depreciate against a trade-weighted basket of currencies of Singapore's major trading partners and competitors.
When it issued its last monetary policy statement in October, the central bank also said it will maintain its policy of a modest and gradual appreciation of the Singapore dollar, with no change to the slope of the policy band, and the level at which the band is centred.
Singapore's economy grew by 5.1 per cent in the first quarter from a year ago, the Ministry of Trade and Industry said on Monday, slower than the 5.5 per cent recorded in the fourth quarter of last year.
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 0.1 percent, moderating from the 6.1 percent expansion in the preceding quarter.
MAS said its monetary policy stance is assessed to be appropriate for containing domestic and imported sources of inflation, and ensuring medium-term price stability as a basis for sustainable growth.
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From channelnewsasia
MAS to allow modest, gradual appreciation of Singapore dollar
14 Apr 2014 8:20
SINGAPORE: The Monetary Authority of Singapore (MAS) said on Monday it will maintain its policy of allowing a modest and gradual appreciation of the Singapore dollar as the economy remains healthy while inflation could rise in coming months.
"Notwithstanding the weak growth outturn in Q1, the level of economic activity should stay on a broad upward trajectory for the rest of the year," the MAS said in its half-yearly monetary policy statement.
It added that inflation is expected to pick up in the coming months after easing recently.
The MAS manages monetary policy by letting the local dollar appreciate or depreciate against a trade-weighted basket of currencies of Singapore's major trading partners and competitors.
When it issued its last monetary policy statement in October, the central bank also said it will maintain its policy of a modest and gradual appreciation of the Singapore dollar, with no change to the slope of the policy band, and the level at which the band is centred.
Singapore's economy grew by 5.1 per cent in the first quarter from a year ago, the Ministry of Trade and Industry said on Monday, slower than the 5.5 per cent recorded in the fourth quarter of last year.
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 0.1 percent, moderating from the 6.1 percent expansion in the preceding quarter.
MAS said its monetary policy stance is assessed to be appropriate for containing domestic and imported sources of inflation, and ensuring medium-term price stability as a basis for sustainable growth.