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Was market surprised by its own rhetoric?

MAS had included a warning to speculators in its January statement but it was apparently not heeded

Most forecasters expected the MAS to show its hand - a widening of the trading band at least, or even an easing move with a downward recentring.

SO the Monetary Authority of Singapore (MAS) caught the market flat-footed once more, when it confounded most expectations on Tuesday by keeping its policy