The Monetary Authority of Singapore (MAS) said on Oct 14 that it will maintain the prevailing rate of appreciation in the value of the Singdollar versus a basket of currencies of its major trading partners. MAS refers to this value as the Singdollar nominal effective exchange rate (S$Neer) policy band.
MAS also narrowed its forecast for 2024 core inflation - which excludes private accommodation and transport costs, and better reflects household expenses - to an average of 2.5 per cent to 3 per cent, from an earlier range of 2.5 per cent to 3.5 per cent.
It also said that the gauge should end the year around 2 per cent.
In 2025, core inflation is expected to average around the midpoint of the forecast range of 1.5 per cent to 2.5 per cent, MAS noted.
The central bank has succeeded in bringing down core inflation, which hit 5.5 per cent at its peak in January 2023. Still, core inflation picked up to 2.7 per cent in August, after falling to 2.5 per cent in July, its lowest since 2022.
However, MAS bucked the global easing trend seen in the first interest rate cuts in four years by the US Federal Reserve, European Central Bank and Bank of England in the past few months.
Bu hikaye The Straits Times dergisinin October 15, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin October 15, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Jung Ho-yeon takes on Hollywood in Disclaimer
The drama series marks the Squid Game star's first English-speaking role
French pianist Helene Grimaud plays with time
Acclaimed French classical pianist Helene Grimaud, who has earned a reputation for playing by her own rules, thinks there should be no contradiction between freedom and fidelity.
Eisner Award winner submitted her comic as practice
Erica Eng submitted her web comic Fried Rice for the Eisner Awards on a whim in 2020.
Two-time Booker Prize nominee almost gave up writing
Acclaimed Canadian novelist Esi Edugyan has had first-hand encounters with the vagaries of the publishing and book-selling worlds.
A frank, and funny, work about the female body
Cat Bohannon wrote her best-selling non-fiction debut Eve: How The Female Body Drove 200 Million Years Of Human Evolution (2023) while also having two children, completing a doctorate and surviving the Covid-19 pandemic.
SILAT WILL MOVE 'UPHILL'
SSF chief plans to improve governance, selection process and coaching quality
One C'ship lets go of 'a few dozen employees'
Mixed martial arts (MMA) organisation One Championship has laid off a number of employees - including those from its Singapore headquarters - on Oct 16.
EPL pays highest price for injuries
Players in Germany's Bundesliga are most likely to be injured among Europe's top five domestic leagues, but the English Premier League bears the most injury-related costs, according to a report published on Oct 16.
Cantona slams 'scandalous' decision to axe Ferguson
Manchester United's most successful manager Alex Ferguson will step down as a global ambassador after the club's part-owners Ineos ended his multi-million pound contract.
PROFLIGATE PORTUGAL LACK MAGIC: COACH
Martinez's men can't find way past stubborn Scotland, but have one hand on q-final spot