Singapore Tasso Di Interesse

The Monetary Authority of Singapore (MAS) left its monetary policy setting in July 2024, extending the pause for the 5th time in a row amid moderate imported inflation. The central bank said it will maintain the prevailing rate of appreciation of SGD nominal effective exchange rate policy band (S$NEER), with no changes to its width and the level at which it is centered. MAS noted the city-state's headline inflation, CPI all-item, edged down to 2.8% yoy in Q2 of 2024 from 3.0% in Q1, due to lower-than-expected private transport costs in recent months. Meanwhile, it kept forecasts for core inflation at 2.5 to 3.5% this year, noting a further slowdown in Q4 to move around 2% in 2025 as crude oil prices have retreated from their peak in April. Regarding the GDP, growth is likely to come closer to its potential rate of 2 to 3%, due to better performance in H2 of 2024, with manufacturing and financials benefiting from the broadening tech upturn and the expected fall in global interest rates.