Monetary authority to ease Singapore dollar stance
The city state's Department of Statistics revealed consumer prices rose 6.5% last month from the same time last year, as compared with the 26-year high of 7.5% in each of the previous three months. Singapore has operated on a policy of targeting gradual appreciation of its trade-weighted exchange rate from 2004, but rising inflation prompted authorities to allow for faster appreciation of the currency last October. However, the strong local currency has hurt exports and slowed economic growth.
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