Singapore's central bank done with policy tightening in 2011

The Monetary Authority of Singapore (MAS) tightened policy today by re-centring its exchange rate target band at a higher level. Q1 GDP figures, also released today, were very strong and show that Singapore’s economy continues to perform well. Nonetheless, we expect global growth to disappoint in the second half of this year, which suggests that MAS will not tighten further in October.

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