The move comes amid a slowing down in core inflation as well as an expected improvement in Singapore’s GDP growth gradually over 2024. Growth in Singapore’s major trading partners should also pick up over time in 2024.
The Monetary Authority of Singapore (MAS) has maintained the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) after its October monetary policy meeting.
There will be no change to the width and level of which the S$NEER is centred, says the central bank on Oct 13.
