MAS maintains monetary policy, cuts core inflation forecast to 1 - 2%

Singapore

THE Monetary Authority of Singapore (MAS) is holding steady on monetary policy but downgrading its forecast range for core inflation to between 1 and 2 per cent, it announced at its latest half-yearly monetary policy review on Friday.

Given the weak growth outlook and revised inflation expectations, economists see the MAS as likely to maintain policy at the next review in October too, contrary to earlier expectations of possible tightening.