Singapore: MAS keeps monetary policy unchanged

The Monetary Authority of Singapore kept the width of the policy band and the level at which it is centred unchanged today, Reuters reports.

Headlines via Reuters

MAS says will maintain the rate of appreciation of the s$neer policy band at zero pct

The current policy band provides some flexibility for the s$neer to accommodate the near-term weakness in inflation and growth 

MAS assesses that a neutral policy stance will be needed for an extended period to ensure medium-term price stability

MAS will continue to closely monitor economic developments as they evolve over the coming months

MAS says cpi-all items inflation has troughed and is expected to come in at 0.5-1.5% in 2017

Says over the medium term, core inflation is still expected to trend towards but average slightly below 2%

Says although mas core inflation is projected to rise from around 1% in 2016 to 1-2% in 2017, the ascent will be gradual