Singapore: MAS tightens on expected lines - TDS

Analysts at TDS note that the MAS tightened as they expected, making a slight change to the slope of the SGD NEER band which we think is a move to a +0.5% slope.

Key Quotes

“There was no change to band width or centre. Looking ahead we do not see the MAS in any rush to shift policy at the October meeting - economic outlook likely to broaden out while inflation edges higher, but trade tensions remain a risk. For now we believe there is limited SGD upside with the NEER trading towards the upper end of its band. Q1 GDP grew 1.4%/qtr annualised, market was at 1.2%.”