MAS eases policy in first move since January
Singapore's central bank cuts rate at which currency is allowed to strengthen amid Asia slowdown
Singapore's central bank moved to reduce the rate at which its currency appreciates today (October 14), amid slowing growth and stubbornly low inflation in its first monetary policy decision in six months.
The move comes as new data shows economic activity in Singapore cooling on the back of lower growth in China, hitting the city-state's financial sector particularly hard.
The Monetary Authority of Singapore (MAS) will continue to allow "modest and gradual appreciation" of the Singapore dollar
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