MAS catches market off-guard, sends Sing dollar soaring
Central bank says neither its growth nor inflation forecasts have changed since its off-cycle slope-reduction on Jan 28
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Singapore
THE Singapore dollar shot up on Tuesday, as the Monetary Authority of Singapore (MAS) caught the market off-guard for the second time in three months - this time by keeping the currency on the same "modest and gradual" appreciating path.
Defying expectations of a policy adjustment at its half-yearly review, the central bank made no change to the S$NEER (Singapore dollar nominal effective exchange rate) band, maintaining its mid-point, slope, and width.
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