Central Banks

Monetary Authority of Singapore meet next week (preview & SGD likely to weaken)

The MAS is Singapore’s central bank. Their monetary policy meeting is next week.

  • MAS policy meetings are twice a year, in April and October (a bit like Brexit deadlines, yeah?)
  • The policy statement will be released on the 14th
Bloomberg have an early preview posted, link here. Some of the main points:
  • Singapore’s dollar is set to weaken because the central bank is likely to scrap its appreciation bias at a policy meeting next week, according to a growing group of forecasters
  • Mizuho Bank Ltd. and Societe Generale SA are defying consensus by predicting the Monetary Authority of Singapore will adjust the slope of its nominal-effective-exchange-rate policy band to zero, from 1%, to counter slowing economic growth
  • SGD may “scream its way” to weaker than S$1.40 per U.S. dollar if MAS adjusts its bias to zero – Mizuho 

ps. The MAS ‘ease’ monetary policy through exchange rate adjustments, not via interest rates. 

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