Economists expect MAS to hold steady in October amid tariff uncertainty, with final monetary policy easing in 2026 instead

[SINGAPORE] Economists largely expect the Monetary Authority of Singapore (MAS) to keep policy settings unchanged in October, even as trade headwinds mount, and the US threatens fresh sectoral tariffs. 

While some analysts see room for a modest easing, most believe MAS will reserve its next easing move – possibly the final one for this cycle – for 2026.

They expect such a move to involve flattening the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band, rather than make changes to its width or where it is centred.