Monetary Authority of Singapore (MAS) maintains monetary policy

The Monetary Authority of Singapore (MAS) is projected to keep its monetary policy unchanged through 2025, driven by consistently high core inflation. Despite a downward trend in headline inflation, core inflation has remained around 3% since mid-2023. This elevated level of core inflation suggests that MAS will not alter its policy parameters this year and will maintain a neutral stance on the Singapore dollar (SGD).

The economy of Singapore continued to expand in the first quarter of 2024, largely thanks to robust performance in the services sector. Read more to find out what allows MAS to keep monetary policy of the SGD steady.