The team adds that it has seen no indication of any change from the Singapore central bank when MAS noted in a separate statement that “the underlying growth momentum will be weak, and the negative output gap will only narrow slowly in the year ahead”.
The Monetary Authority of Singapore (MAS) is likely to persist with its “relatively accommodative” monetary policy to avoid derailing the recovery in 2021, says the team at Fitch Solutions.
The belief also comes as MAS, in October 2020, decided to leave its slope, width and mid-point of the S$NEER policy band unchanged, noted the team.
