Macroeconomic Forecast Singapore

Official View: The Monetary Authority of Singapore (MAS) announced after its twice-yearly policy meeting a re-centring of the Sing dollar's Nominal Effective Exchange Rate (SGD NEER) band. The central bank believes that as a result inflation can be kept within the upper end of its average forecast of 4.5-5.5% for 2008. Inflation, which reached 6.5% y-o-y in February (down slightly from 6.6% in January), has reached levels not seen since monthly data was first recorded in 1983.

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