Reuters was first to report on Tuesday that Singapore’s central bank would tighten its monetary policy in its first out-of-cycle move in seven years in response to inflation risks. The Monetary Authority of Singapore, which holds its scheduled policy reviews only twice a year, surprised markets with the move. The news strengthened the Singapore dollar, one of the world’s most-traded currencies, to its highest level in three months. The city-state’s trade-dependent economy is highly susceptible to swings in global inflation and the central bank’s sudden move comes as price pressures ring alarm bells for policymakers elsewhere in Asia.
Business & Finance
Reuters ahead with first out-of-cycle move by Singapore central bank
25 January 2022, 3:26 pm 1 minute
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: Singapore
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story