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Singapore's Central Bank Tightens Monetary Policy on July 27 Amid Oil-Driven Inflation Fears

GateNews
Forex

According to the Singapore Monetary Authority statement, the central bank tightened monetary policy on Monday, July 27, by raising the appreciation slope of the Singapore Dollar's nominal effective exchange rate band—its primary policy tool rather than interest rates—to counter expected inflation pressures from elevated energy prices amid Middle East tensions. The width and center level of the exchange rate band remain unchanged.

The MAS stated: "External price pressures are expected to persist and transmit more broadly to domestic consumer prices in the coming period."

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