Singapore Tightens Policy as Iran War Boosts Inflation
The Monetary Authority of Singapore tightened policy settings to address inflation risks from the Iran war. First-quarter GDP growth slowed to 4.6 percent.
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The central bank of Singapore tightened its monetary policy on Tuesday, warning that the ongoing conflict involving Iran could trigger an energy shock and escalate inflationary pressures. The Monetary Authority of Singapore (MAS) announced it would increase the rate of appreciation for the Singapore dollar nominal effective exchange rate (S$NEER) policy band, a move intended to dampen imported inflation as global risks mount.
