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Singapore’s central bank kept policy unchanged on Friday as expected, saying the current policy band for the local currency provided some flexibility to accommodate the near-term weakness in inflation and growth.
The central bank kept the width of the policy band and the level at which it is centred unchanged, maintaining the rate of appreciation of the Singapore dollar policy band at zero per cent. “MAS assesses that a neutral policy stance will be needed for an extended period to ensure medium-term price stability,” the Monetary Authority of Singapore said in its semi-annual monetary policy statement.
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