Singapore Central Bank Seen Tightening Exchange-Rate Policy
Dow Jones10-12
0440 GMT - Singapore's core inflation is projected to remain at 2.0%-2.5% year over year in the next 12 months, above the Monetary Authority of Singapore's soft target of just under 2%, which could prompt the central bank to allow the Singapore dollar to strengthen further, Deutsche Bank analysts say in a note. The bank expects MAS to slightly steepen the Singapore dollar nominal effective exchange rate policy slope at its meeting Wednesday. A 10% quarter-on-quarter decline in electricity prices in 4Q would provide some relief, but higher food prices and greater pass-through of goods inflation to services are expected to keep price pressures elevated, the analysts say.
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