Singapore expected to ease SGD policy amid US tariff moves
All 14 economists in a Bloomberg survey forecast that the MAS, which uses the exchange rate rather than interest rates to stabilise prices, will reduce the slope in the policy band of the Singapore dollar’s nominal effective exchange rate on April 14.
MAS eased its Singdollar policy in January for the first time in five years (Photo: straitstimes)
Singapore (VNA)ౠ - The Monetary Authority of Singapore (MAS) - the country’s central bank - is expected to ease monetary policy settings further following US President Donald Trump unleashed the steepest tariffs in a century.
All 14 economists in a Bloomberg survey forecast that the MAS, which uses the exchange rate rather than interest rates to stabilise prices, will reduce the slope in the policy band of the Singapore dollar’s nominal effective exchange rate on April 14.
While the US dollar gained against many Asian currencies in the wake of Trump’s election victory in November 2024, the picture has become more nuanced in the past month.
Singapore, which was hit with a 10% US tariff, got off relatively lightly compared with China’s 145%, but as an export-reliant economy, the nation’s success rests on the health of its trading partners.
Singaporean Prime Minister Lawrence Wong has warned that growth in 2025 will be “significantly impacted” and Singapore could tip into a recession.
MAS eased its Singdollar policy in January for the first time in five years, and the case to support the economy has become even stronger following the US tariffs and the ensuing global market ructions./.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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