Singapore dollar ticks up as MAS holds fire
Monetary Authority of Singapore leaves exchange rate policy unchanged despite fall in prices
The Monetary Authority of Singapore (MAS) today surprised analysts by leaving its exchange rate policy unchanged despite negative inflation figures in January and February that were partly the result of a stronger currency.
The decision, which caused the Singapore dollar to jump by 1% against its US counterpart but sent the benchmark Singapore Interbank Offered Rate (Sibor) to its lowest level in two weeks, was the MAS's first since flattening the currency's 'slope' of permitted appreciation in
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