By Amanda Lee
SINGAPORE--The Monetary Authority of Singapore kept its monetary policy unchanged for a fourth straight review, and said the current policy is needed to keep a restraining effect on imported inflation and domestic cost pressures, while being sufficient to ensure medium-term price stability.
The central bank on Friday said it would maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, as the present monetary policy settings remain appropriate, the MAS said. There will be no change to the width and the level at which the S$NEER policy band is centred.
All 13 economists and analysts surveyed by The Wall Street Journal had expected the MAS to keep its policy unchanged.
MAS will closely monitor global and domestic economic developments, and remain vigilant to risks to inflation and growth, the central bank said.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
04-11-24 2029ET
