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More monetary policy tightening moves on the cards this year, but economists split on July vs October decision

April’s revisions seen as pre-emptive; inflation pass-through from Iran war yet to show up in data

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Tessa Oh

Tessa Oh

Published Tue, Apr 14, 2026 · 04:14 PM
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    • MAS raised its core and headline inflation forecasts to 1.5% to 2.5% for 2026, from 1% to 2% previously.
    • MAS raised its core and headline inflation forecasts to 1.5% to 2.5% for 2026, from 1% to 2% previously. PHOTO: REUTERS

    [SINGAPORE] With inflation risks from the Iran war oil shock still building, economists expect the Monetary Authority of Singapore (MAS) to tighten monetary policy further this year – though analysts are divided on whether the central bank will act as soon as July or wait until October.

    This came after MAS on Tuesday (Apr 14) steepened the slope of the Singapore dollar nominal effective exchange rate policy band while keeping its width and centre unchanged.

    The central bank also raised its core and headline inflation forecasts to 1.5 to 2.5 per cent for 2026, from 1 to 2 per cent previously.

    Singapore economySingapore inflationSingapore GDPMonetary PolicyMonetary Authority of Singapore

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