Singapore Pursues More Aggressive Policy Tightening as it Raises Inflation Forecasts

(The Straits Times) — Singapore’s central bank tightened its monetary policy on Thursday for the third time since October in a double-barreled move to combat inflation that is expected to heat up.

To allow the local dollar to strengthen against currencies of its trading partners, the Monetary Authority of Singapore (MAS) re-centered the midpoint of the exchange rate policy band at the prevailing level, and slightly increased the slope or rate of currency appreciation.