Why tweak Singdollar policy?
The decision earlier this month to allow the Singapore dollar to strengthen will help to alleviate inflation and provide support to the economy as it eases to a more sustainable growth rate, said the Monetary Authority of Singapore (MAS) yesterday.
In its latest half-yearly Macroeconomic Review, the central bank said that its most recent monetary policy decision affirmed that the exchange rate path is consistent with the prevailing macroeconomic conditions.
‘Singapore’s GDP growth is projected to moderate to a more sustainable pace of around four to six per cent this year after four years of robust growth above seven per cent between 2004 and last year,’ MAS said.
It added that its monetary policy remained focused on ensuring medium-term price stability in the economy as the basis for sustainable economic growth.
Source : Straits Times - 30 Apr 2008
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