Singapore eases monetary policy as deep recession looms


Singapore’s central bank eased its monetary policy on Monday, as widely expected, with the city state’s bellwether economy bracing for a deep recession because of the coronavirus pandemic.The Monetary Authority of Singapore (MAS), which uses the exchange rate as its main policy tool rather than a benchmark interest rate, reduced the slope of the currency band to zero starting at the prevailing level of the nominal effective exchange rate of the Singapore dollar.Singapore PM calls for end to US…

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