Central Banks

Singapore’s MAS Is Set to Extend Policy Pause on Geopolitical Tensions

All analysts in survey expect central bank to maintain policy
MAS likely watchful of global uncertainty, rising oil prices

WATCH: Singapore’s economy expanded faster than expected in the third quarter. The central bank has kept monetary policy settings unchanged for a second straight meeting. Avirl Hong reports.Source: Bloomberg

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By Claire Jiao, Low De Wei, and Tomoko Sato

October 11, 2023 at 10:00 PM UTC

This article is for subscribers only.

Singapore’s central bank is set to leave its monetary policy unchanged for a second straight meeting as core inflation wanes and economic growth remains fragile.

The Monetary Authority of Singapore, which uses the exchange rate rather than interest rates to stabilize prices, will likely favor no action at its twice-a-year policy review Friday, according to all 18 economists polled by Bloomberg. This will extend the pause in tightening seen in April, after the central bank allowed the Singapore dollar to appreciate in five moves between October of 2021 and 2022 to blunt the impact of imported inflation.