As expected, the MAS maintain its ‘neutral policy’ stance
at its recent Apr meeting. The slope of the SGD NEER policy was kept at
zero percent, with no change to the width of the policy band or the level
at which it is centred. The forward guidance that the neutral policy
stance is appropriated for “an extended period” was maintained, against
expectations of some participants in the market that this phrase would be
removed. Consequently, initial market reaction saw the USDSGD jump ...