Singapore holds currency policy as GDP growth slows to 5.4 percent

The Monetary Authority of Singapore left its exchange-rate policy unchanged on Wednesday, retaining the currency band's appreciation rate, width and centre, according to its October statement.

The band still slopes upwards.

Core inflation rose to 2.1 percent in July and August from 1.5 percent in the second quarter. MAS expects inflation to ease more clearly from mid-2027 as import costs moderate.

Separately, advance government estimates put third-quarter GDP growth at 5.4 percent from a year earlier, down from 6.2 percent in the second quarter. Seasonally adjusted growth from the preceding quarter slowed to 1.1 percent from 1.5 percent.

The statistics agency says the estimate rests largely on July and August data and is subject to revision.

Photograph: Terence Ong / Wikimedia Commons, CC BY 2.5. Cropped.