Singapore's central bank tightened its monetary policy for the third straight time, as global inflationary pressures and tight labor market continued to exert upward pressure on inflation.
The Monetary Authority of Singapore, on Thursday, decided to re-centre the mid-point of the exchange rate policy band at the prevailing level of the S$NEER.
The MAS will also increase slightly the rate of appreciation of the policy band to exert a continuing dampening effect on inflation. There was no change to the width of the policy band or the level at which it was centred.
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by Renju Jaya
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