SINGAPORE — Singapore’s central bank today (Jan 28) reduced the slope of its monetary policy band in an unexpected easing of policy ahead of its scheduled review in April.
The Monetary Authority of Singapore (MAS) also cut its inflation forecast for the year for both headline consumer price index (CPI) as well as core CPI (excludes the cost of accomodation and private road transport).
“Since the last Monetary Policy Statement in October, developments in the global and domestic inflation environment have led to a significant shift in Singapore’s CPI inflation outlook for 2015,” the MAS said in a statement.
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