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Economists split on monetary policy tightening in April after February inflation data

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Elysia Tan

Elysia Tan

Published Thu, Mar 23, 2023 · 08:14 PM
    • Barclays and DBS do not expect monetary policy tightening in April. Meanwhile, the Bank of America predicts a steepening of the Singapore dollar nominal effective exchange rate, and Maybank, UOB and HSBC expect re-centring.
    • Barclays and DBS do not expect monetary policy tightening in April. Meanwhile, the Bank of America predicts a steepening of the Singapore dollar nominal effective exchange rate, and Maybank, UOB and HSBC expect re-centring. PHOTO: BT FILE

    AFTER February inflation data released on Thursday (Mar 23) surprised on the downside, economists are mixed on whether the Monetary Authority of Singapore (MAS) will tighten monetary policy at its meeting in April.

    The recent stresses in the global banking system are also a factor in the mix.

    Headline inflation eased to 6.3 per cent in February, from 6.6 per cent in January. This marked a nine-month low, due to slowing private transport costs from last year’s high base for certificate of entitlement premiums, noted Maybank economists Chua Hak Bin and Lee Ju Ye.

    Monetary PolicySingapore inflationInflationSingapore economyenergy pricesFood prices

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