MAS fights price pressures with another policy tightening

The midpoint of the Singdollar policy band was re-centred up to its prevailing level.

The Monetary Authority of Singapore (MAS) has tightened its monetary policy for the fourth time since October 2021 to “ensure that price pressures are dampened over the next few quarters.”

In an announcement, MAS said it re-centred the midpoint of the Singdollar policy band up to its prevailing level, but did not change the slope and width of the band.

“This policy shift, building on past tightening moves, will further reduce imported inflation and help curb domestic cost pressures,” MAS said.

“The policy stance will help dampen inflation in the near term and ensure medium-term price stability, providing the basis for sustainable economic growth,” it added.