Monetary Authority of Singapore’s Semi-Annual Policy Review

October 14, 2014

The operating target of monetary policy is an exchange rate corridor, and interest rates are kept at whatever level will meet the S-dollar’s target. Like the previous four semi-annual reviews, the mid-point, slope, and width of the exchange rate target band were left unchanged.  The target allows for a “modest and gradual” appreciation of the […] More

Monetary Authority of Singapore Endorses Faster Singapore Dollar Rise

October 14, 2010

The semi-annual S$ review gave a thumbs-up to the policy of gradual trade-weighted currency appreciation and in fact steepened the potential pace of that advance.  GDP had contracted in Singapore during the third quarter but will record faster growth in 2010 than even China achieves.  The Review published today finds the slower pace of growth […] More

Revaluation of Singapore Dollar

April 14, 2010

Authorities at the Monetary Authority of Singapore (MAS) acted before their Beijing counterparts, releasing a statement today that re-centers the currency trading band on present market Singapore dollar levels, which had been above the prior level.  More importantly, the bias on that currency band will no longer be zero but rather modestly and gradually upward.  […] More

Dollar Retreats a Bit Further as Investors Await Bernanke JEC Testimony

April 14, 2010

The dollar slid 0.5% against the Australian dollar, 0.3% versus the Canadian dollar and British pound, and 0.2% against the euro and kiwi.  The yen did even worse, dropping 0.3% against the greenback, and the Swissie is unchanged against the U.S. currency. Stocks are up 1.5% in South Korea, 1.6% in Singapore, 0.9% in Australia, […] More