Singapore central bank official says policy stance remains appropriate
Singapore`s current monetary policy stance remains appropriate, a senior official for the Monetary Authority of Singapore (MAS) said on Friday, after second-quarter economic growth was revised much higher and exceeded analysts` expectations.
"The GDP forecast range for this year has been narrowed to 2-3 percent, which is within the planning parameters of the MAS`s April 2017 monetary policy decision. Accordingly, the monetary policy stance remains as announced in April," MAS deputy managing director Jacqueline Loh told reporters.
The MAS kept its exchange-rate based policy unchanged at its last policy decision in April, saying a "neutral" stance is appropriate for an extended period. The central bank`s next policy decision is due in October.
Data released on Friday showed Singapore`s economy grew much faster than the government initially estimated in the April-June quarter, helped by expansions in the services sector and manufacturing.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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