MAS' monetary policy stance to remain unchanged despite nCov impact

S$NEER is still said to be in line with weaknesses in Singapore’s economy.

The Monetary Authority of Singapore (MAS) stated that its monetary policy stance will remain the same as there is “sufficient room” to accommodate an easing of the Singapore Dollar nominal effective exchange rate (S$NEER).

MAS said that S$NEER is in line with weakening economies amidst the novel coronavirus (nCov) outbreak in China and other countries, including Singapore.

Also read: MAS rejects aggressive policy easing despite weak economic growth

In October 2019, MAS reduced the rate of appreciation of the S$NEER policy band and is said to have been fluctuating near the upper bound of the policy band since then.

“MAS is monitoring economic developments closely. The next policy review remains as scheduled in April 2020,” it stated.