Monetary Authority of Singapore keeps FX-based policy settings unchanged with rate of appreciation of the policy band maintained (exp. slight tightening), while it makes no change to the width and level the band is centred

Says: Singapore's economy is expected to continue expanding steadily in the quarters ahead. Core inflation should remain slightly elevated in the immediate quarters ahead but is projected to ease discernibly from the middle of next year. The pace of AI-related activity is projected to moderate in H2 2027. Singapore's economy is expected to continue expanding steadily in the quarters ahead. Singapore's economy should continue to expand at a firm pace in the immediate quarters ahead. CPI-All Items inflation is expected to be around 2.0% for 2026 as a whole. The current appreciating policy band will allow the SGDNEER to continue strengthening. There continues to be significant uncertainty surrounding the macroeconomic outlook. For now, risks to inflation remain tilted to the upside.