Monetary Authority of Singapore
Monetary Policy Tightened in Singapore
April 14, 2026
Monetary policy in Singapore, which subordinates interest rates to whatever it takes to achieve a target for the economy’s currency, has been tightened for the first time since April 2022. Policy is reviewed on a quarterly basis and was last changed in January and April of 2025 when slight easings were implemented. Three parameters define […] More
Evidence of Rising Inflation but Investors Clinging to Hope that Iran and U.S. Will Strike A Deal
April 14, 2026
President Trump claims that Iranian negotiators want to resume negotiations to end the Middle East war. While not the most reliable source, investors have chosen to give his upbeat pronouncement the benefit of the doubt this Tuesday. The price of oil is lower, and an appetite for riskier assets has improved. The $97.43 price of […] More
Risk Aversion in Spite of Gaza Ceasefire and Trump’s “It Will All Be fine” Comment on Trade Tensions
October 14, 2025
Equity markets and long-term sovereign debt yields faltered anew this Tuesday. China is lifting port fees against U.S. imports and accusing Trump of reigniting trade tensions between the two countries. In the middle east conflict, hostages and prisoners have been returned, but ensuing steps to cement a permanent peace in the region are being met […] More
Singapore Monetary Policy Eased After Weaker-Than-Expected GDP Data
April 14, 2025
The Monetary Authority of Singapore flattened the slope of the SGD’s target rate following news that GDP in that economy had contracted by 0.8% between 4Q 2024 and last quarter. That bigger-than-expected decline was the first negative GDP movement since a 0.5% drop in 1Q 2022 and lowered year-on-year economic growth to 3.8% from 5.0% […] More
Temporary Reciprocal Tariff Pause on Tech Lifts Equities But Dollar Continues to Weaken
April 14, 2025
(196) The dollar fell overnight by 0.9% against sterling, 0.8% versus the Mexican peso and New Zealand’s currency, 0.6% relative to the Aussie dollar, 0.2% vis-a-vis the loonie, and 0.3% against the Japanese yen and euro. Intra-day lows of 1.1424 per euro and JPN 142.2 constituted the dollar’s lowest value in 39 and 6 months, […] More
Singapore’s First Monetary Easing Since 2020
January 24, 2025
The Monetary Authority of Singapore, which subordinates interest rate policy to an exchange rate policy, loosened its monetary policy today. The central bank’s policy consists of a trading corridor for the trade-weighted Singapore dollar, defined by the slope, width and midpoint of target. Officials reduced the trading band’s slope but left the midpoint and width […] More
Dollar Kicks Off Week on a Positive Note
October 14, 2024
The weighted DXY dollar index rose 0.3% overnight to a nine-week high, with gains of 0.6% against the Swiss franc, kiwi and Aussie dollar, 0.4% relative to the Japanese yen, 0.3% versus the Chinese yuan and 0.2% vis-a-vis the euro, loonie, and sterling. Holidays today: Japan was closed for Health-Sports Day, and Canadians will be […] More
Dollar Strengthens to 2024 High
April 12, 2024
Fear that Iran is going to attack Israel is augmenting economic factors strengthening the dollar, which climbed 0.7% on a weighted basis to its strongest point since November. Today’s release of U.S. import price data also buoyed the U.S. currency. Import price gains in March of 0.4% both on month and year-on-year exceeded expectations. Import […] More
Fading Hopes That Fed Will Consider a Rate Cut By March
January 29, 2024
Investors are concluding that Wednesday’s Fed Chairman Powell press conference will not signal that a rate cut might be considered as soon as the following FOMC meeting set for March. U.S. GDP growth last quarter surpassed expectations, and the labor market is still too tight. Although the core PCE price deflator put inflation below 3.0%, […] More
Turmoil in the Mideast and U.S. House of Representatives Buoys Oil and Gold but Depresses Equities and Long-Term Interest rates
October 13, 2023
Price figures continued to dominate the menu of economic data releases on Friday. Markets averted riskier assets, amid disarray in the U.S. Congress and as fears mount of catastrophic warfare in the Mideast. The Monetary Authority of Singapore left its policy stance unchanged. Equity markets fell 2.3% in Hong Kong, 1.0% in Singapore and South […] More
