MAS: Ready to curb excessive volatility in trade-weighted SGD

Monetary Authority of Singapore (MAS) published a statement earlier on the day, commenting on the exchange rate and overall economic outlook.

Key Points:

Unless there is a marked deterioration in global economy or significant to inflation outlook there is no need to change mon pol stance

Current stance of monetary policy remains appropriate for overall macro conditions in 2016

Not time yet to ease property cooling measures

Core inflation is likely to wave around 1% in 2016, rise this year will be milder than expected

Govt and MAS reviewing 1-3% growth forecast for 2016

Economy faces added uncertainty from recent developments in UK and EZ

Does not expect large outflow to Indonesia following amnesty bill

Notwithstanding recent volatility, s$neer remains within policy band