MAS’ latest tightening an ‘insurance’ move against inflation: Analyst

The Monetary Authority of Singapore (MAS) tightened monetary policy on Monday (Jul 27), raising the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band by a small amount. Most economists had expected the central bank to leave policy unchanged. The decision marks MAS' second consecutive tightening since April. Speaking to CNA's Asia First, Selena Ling, chief economist and head of OCBC Group Research, says the latest tightening is likely another "insurance" or pre-emptive measure, as core inflation is still headed higher amid higher energy prices and ongoing geopolitical uncertainty.

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