As expected, the MAS maintain its ‘neutral policy’ stance at its recent Apr meeting. The slope of the SGD NEER

GBL: SGD – Weighed By MAS’ Dovish Stance

FX Flash by Saktiandi Supaat

FX Research

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 ...