The Monetary Authority of Singapore (MAS) has decided to keep its currency policy unchanged on Tuesday, citing a slightly improved global economic outlook and expecting that the local economy will grow at a moderate pace this year, AsiaFirst reported. MAS, Singapore’s central bank, said it will maintain the police of a modest and gradual appreciation of S$NEER (Singapore dollar nominal effective exchange rate) policy band. It also keeps its inflation outlook. MAS said that it expects the economy to grow at a moderate pace of between 2% and 4% this year, compared with a 2.9% growth in 2014. It also kept its prediction of an average 0.5% deflation or 0.5% inflation of the consumer-price index in 2015.
