Singapore c.bank leaves policy unchanged as expected

The Monetary Authority of Singapore (MAS) manages monetary policy through exchange rate settings, rather than interest rates. (Reuters pic) 

SINGAPORE: Singapore’s central bank on Friday kept its monetary policy unchanged as expected, citing easing economic growth and mild inflationary pressures.

The Monetary Authority of Singapore (MAS) said it would maintain the slope of the Singapore dollar’s policy band, while there would be no change to the width and level at which its band was centred.

The MAS manages monetary policy through exchange rate settings, rather than interest rates, letting the Singapore dollar rise or fall against the currencies of its main trading
partners within an undisclosed policy band.