The Monetary Authority of Singapore kept its monetary policy unchanged on Friday at the semi annual policy meeting.
The central bank maintained the rate of appreciation of the S$NEER policy band at zero percent. The width of the policy band and the level at which it is centered will be unchanged, the bank said.
The bank expects the growth in the city-state economy to take a step-down in the second half of 2016 from the 2 percent recorded in the first half, and full-year GDP growth is likely to come in at the lower end of the 1-2 percent forecast range.
Growth is expected to be only slightly higher in 2017, MAS noted.
Further, MAS core Inflation is projected to rise from around 1 percent in 2016 to 1-2 percent in 2017, the ascent will be gradual.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.