Martin Lee @ Sg
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MAS Monetary Policy Statement Apr 2010

Yesterday, MAS released their monetary policy statement for the first half of this year. In a double move, it has re-centred its policy band at the Singapore dollar’s current level, and allowed for a modest and gradual appreciation of the unit. This marks a change from the no-appreciation policy in place since October 2008 and has taken place on the back of improving economic outlook and increasing inflation

sneer-april2010

Singapore’s GDP growth forecast for 2010 has been revised upwards to between 7% and 9%, from 4.5% and 6.5% while overall CPI inflation in 2010 is projected to be between 2.5% and 3.5%, slightly higher than the 2-3% forecast earlier..

Analysts expect an appreciation in the S$ at a rate of 2 per cent a year.

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