Singapore tightens monetary policy to deal with inflation


Singapore’s central bank on Thursday announced a tightening of monetary policy for the first time in three years to cope with rising prices while the country announced gross domestic product (GDP) growth of 6.5% in third trimester.

The Singapore Monetary Authority (MAS), which acts as the city-state’s central bank, said it would “increase the Singapore dollar’s exchange rate policy band slightly by 0%, to guide a modest currency appreciation “. with the objective of coping with inflation, estimated at 2.4% until August.

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