MAS holds steady at July review; economists expect easing only in 2025
The central bank expects full-year growth of 2 to 3 per cent, which falls at the higher end of the official forecast range of 1 to 3 per cent
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SINGAPORE’S central bank might only ease monetary policy settings in early 2025, said economists, after it left policy unchanged for the fifth straight meeting during the July review.
The Monetary Authority of Singapore (MAS) said on Friday (Jul 26) that it will maintain the prevailing rate of appreciation of the Singapore nominal effective exchange rate (S$NEER) policy band, with no change to its width and level at which it is centred.
It also expects gross domestic product growth to come in “closer to its potential rate” of 2 to 3 per cent for the full year, which is at the higher end of the Ministry of Trade and Industry’s forecast range of 1 to 3 per cent.
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