MAS maintains forex policy
The decision was made at the semi-annual monetary review last Tuesday, and reaffirmed the policy first instated in April last year (FX Week, April 19, 2004).
The slope and width of the band were left unchanged, marking a continuation of the tightening bias since April 2004, said Claudio Piron, FX strategist at JP Morgan in Singapore. He added that the policy stance was still described as supportive of growth, and was seen as consistent with current inflation targets.
"We continue to expect the
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