Singapore eases monetary policy sharply and taps reserves

The Monetary Authority of Singapore (MAS) has eased monetary policy sharply as core inflation dipped into negative territory and a deep recession looms for the year ahead.

The city-state’s central bank slashed the appreciation of the Singapore dollar to zero, the most aggressive flattening move since the 2008 global financial crisis, according to its semi-annual monetary policy statement published today (March 30).

“The MAS would adopt a 0% per annum rate of appreciation of the policy band

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