EURSGD

Euro / Singapore dollar

The midpoint of Singapore’s currency’s policy band has been adjusted to the prevailing level. The Monetary Authority of Singapore (MAS), whose main regulatory tool is the exchange rate, has performed this action as a result of the previous quarter’s report on the economic growth, which turned out to be better than it was initially suggested. The report also signaled that demand might be damped by raised prices and tightening of the financial environment.

The Monetary Authority of Singapore (MAS) plans to further tighten monetary policy through the fifth exchange rate adjustment since October 2021. MAS’ policy is aimed at curbing inflation, even though their actions could threaten sustainable economic growth.

This month the financial authorities of Singapore will probably tighten the monetary policy for the fifth time straight.

The economic crisis in the eurozone has intensified for the first time with double-digit inflation in history, which will force the European Central Bank to continue aggressively raising interest rates.

A series of measures for the property market has recently been announced by the Government of Singapore. New measures were partially taken to respond to an increase of interest rates. In particular, tightening lending limits for housing loans is part of the response. There are also further steps of suppressing demand among the new measures adopted for the property market.