MAS makes surprise adjustment to currency policy
Economists now estimate the slope of appreciation is at 1% per annum
The Monetary Authority of Singapore (MAS) today became the latest central bank to unexpectedly ease monetary policy in reaction to falling oil prices – following in the footsteps of Norges Bank and the Bank of Canada.
In an unscheduled policy statement, the MAS said it will reduce the slope of the currency band, its main monetary policy tool, but made no change to the width and level at which the band is centred.
"This measured adjustment to the policy stance is consistent with the more benign
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