This was largely a result of services inflation re-accelerating, which prevented core inflation from falling to 4.7% as the market had expected.
The Singdollar’s recent strength has raised questions about whether the Monetary Authority of Singapore (MAS) could be hinting at a possible change of policy ahead.
According to an HSBC Global Research report, some onlookers have been left wondering if the central bank will take a risk-based approach — turning hawkish again after a pause on tightening monetary policy — after core inflation in April surprised on the upside by remaining sticky at 5%.
