Singapore central bank stands pat on monetary policy as growth slows [CNBC]
UNITED OVRSEAS BK S/ADR (UOVEY)
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Source: CNBC
Singapore central bank stands pat on monetary policy as growth slows Singapore's central bank on Friday kept its monetary settings unchanged after two consecutive rounds of tightening, underscoring policymakers' concerns about a cooling economy and rising risks to the outlook from slackening global demand. The Monetary Authority of Singapore (MAS), which manages policy through exchange rate settings rather than interest rates, said it would maintain the slope of the Singapore dollar's policy band while keeping the width and level at which the band is centered unchanged. 17 out of 20 economists in a Reuters poll predicted that the central bank would keep monetary policy unchanged. Across Asia, a slowing world economy and abrupt end to Federal Reserve policy tightening have seen markets betting on outright rate cuts or easier policy stance for a growing list of central banks. "GDP growth in the Singapore economy has eased, bringing the level of output closer to its underlying potentia
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