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Singapore central bank tightens policy for second time this year

Copyfrom:The StarPost Time:2018-10-12 09:21:49

Singapore's central bank tightened monetary policy for the second time this year on Friday, and said the city state's economy is likely to grow at a steady pace. 

The Monetary Authority of Singapore (MAS) said it would slightly increase the slope of the Singapore dollar's policy band, while keeping the width and mid-point of the band unchanged.

The MAS manages monetary policy through exchange rate settings, rather than interest rates, letting the Singapore dollar rise or fall against the currencies of its main trading partners within an undisclosed policy band based on its nominal effective exchange rate.

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