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Bloomberg
Singapore’s central bank further tightened monetary settings and raised its inflation forecast, sending currency higher, as it seeks to fight cost pressures that threaten recovery from pandemic.
The Monetary Authority of Singapore, which uses exchange rates as its main policy tool, said that it’s taking steps to strengthen the local dollar, which will help slow inflation momentum as global shocks feed into local prices.
The specific moves — re-centering its policy band higher and raising the slope of appreciation — mark the first time since April 2010 that both tools were used at the same time to tighten. Thursday’s decision builds on a tightening in October and another surprise move in January.