Monetary Authority of Singapore statement on monetary policy:

(bolding mine)

MAS will therefore continue with the policy of a modest and gradual appreciation of the S$NEER policy band. However, the rate of appreciation will be reduced slightly. There will be no change to the width of the policy band and the level at which it is centred. This measured adjustment follows the move to reduce the rate of appreciation of the policy band in January this year, and is supportive of economic growth into 2016, while ensuring price stability over the medium term.

A slight easing of policy from the MAS

More:

  • Sees cyclical headwinds to persist in early 2016
  • Sees 2-2.5% GDP growth forecast; risk to downside
  • Singapore core inflation for 2015 to average about 0.5%
  • 2016 core inflation to average 0.5-1.5%
  • MAS says global outlook softened since April review
  • Inflation to gradually pick up over 2016

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