The Monetary Authority of Singapore is holding steady on monetary policy but downgrading its forecast range for core inflation to between 1 and 2 per cent, it announced at its latest half-yearly monetary policy review.THE Monetary Authority of Singapore is holding steady on monetary policy but downgrading its forecast range for core inflation to between 1 and 2 per cent, it announced at its latest half-yearly monetary policy review.
Economists had expected this lack of further tightening, given weaker gross domestic product growth, softening inflation, and the United States Federal Reserve having paused in its monetary policy tightening. Its 2019 forecast for headline inflation remains unchanged at 0.5 to 1.5 per cent. It had been revised in February, down from the previous 1 to 2 per cent.
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