, Singapore

MAS sticks to neutral monetary policy

It shifted to zero appreciation in currency last year.

According to a report from Bloomberg, Singapore’s central bank left its monetary policy unchanged after the economy contracted in the first quarter, saying the neutral stance is appropriate for an extended period of time. The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, shifted to a zero appreciation stance for the currency in April last year.

Trade-reliant Singapore lost some of its momentum in the first quarter, contracting an annualised 1.9% from the previous three months, preliminary data from the government showed. Whilst the economy is benefitting from a pick-up in exports, domestic-focussed industries such as retail and construction remain weak, giving the central bank room to keep its policy neutral.

Read more here.

Join Singapore Business Review community
Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.