US EditionMAS Keeps Monetary Policy Unchanged After Easing Twice This Year
SINGAPORE, JUL 30 – Monetary Authority of Singapore kept its exchange rate policy steady after two eases in 2025 due to resilient global growth and medium-term price stability risks.
- On Jul 30, the Monetary Authority of Singapore maintained its exchange rate-based policy, following two easings earlier this year, as MAS said it remains 'in an appropriate position to respond to risks to medium-term price stability.'
- In its policy statement, MAS said it was in `an appropriate position to respond to risks to medium-term price stability` after two easings earlier this year.
- Managing monetary policy via exchange rate adjustments, MAS avoids using interest rates, letting the Singapore dollar nominal effective exchange rate move within an undisclosed band.
- On Jul 30, the Singapore dollar was little changed at 1.2867 to a US dollar, and MAS maintained its 2025 core inflation forecast at 0.5 per cent to 1.5 per cent.
- With delayed US tariffs set to bite, MAS warned the drag on global demand may intensify and projected Singapore’s GDP growth to slow in H2 with the output gap around 0 per cent for the full year.
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Singapore leaves monetary policy unchanged
SINGAPORE, July 30 — Singapore’s central bank left its monetary policy settings unchanged on Wednesday, maintaining a modest and gradual appreciation path for the Singapore dollar, as it flagged slowing growth in the second half of the year and contained inflationary pressures, reported Xinhua. The Monetary Authority of Singapore (MAS) said it will keep the current rate of appreciation of the Singapore dollar nominal effective exchange rate (S$N…
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40% Right
L 40%
C 20%
R 40%
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