MAS Tightening Still on the Cards Despite Tamer Core Inflation -- Market Talk

Dow Jones17:59

0959 GMT - The downside surprise in Singapore's core inflation in April doesn't dissuade UOB's economics team from expecting more tightening by the central bank. Rather, they think the CPI print actually bolsters the case for MAS policy tightening. Core CPI sped up on a three-month seasonally adjusted basis, imported inflation accelerated and there are early signs of broadening price pressures, as evidenced by the increase in inflation pervasiveness. UOB maintains its 2026 core inflation forecast at 1.9% and headline inflation projection at 2.2%. Risks to both still tilt to the upside. "We still expect MAS to tighten monetary policy further at the Oct 2026 MPS," says Jester Koh. He sees scope for an earlier move, should second‐round effects intensify or inflation expectations accelerate. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

May 25, 2026 05:59 ET (09:59 GMT)

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