The Monetary Authority of Singapore maintains its monetary policy unchanged, in line with market expectations.

The Monetary Authority of Singapore (MAS) maintained its monetary policy on Wednesday. Data prior to the meeting showed an unexpected increase in Singapore's second quarter economic growth. MAS stated that it will maintain the current rate of appreciation of the Singapore dollar's nominal effective exchange rate policy band, with no changes to the width or center of the band. The MAS statement mentioned that the policy is in an appropriate position in response to mid-term price stability risks. Out of the 12 analysts surveyed by the media before the MAS meeting, six predicted that MAS would ease its monetary policy to address the expected economic output gap, while the other six analysts believed that the policy would remain unchanged.