MAS makes rare policy tweak amid slowing global economy

MAS targets slower appreciation of Singapore dollar, the first such easing in more than three years

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The Monetary Authority of Singapore (MAS) set a slightly lower appreciation rate for its key monetary policy target, the Singapore dollar nominal effective exchange rate (S$NEER), on October 14, its first easing measure in more than three years.

The move follows that of regional peers such as Indonesia, the Philippines and India, which have all loosened their monetary policies in the past few months amid slowing global economic growth.

“Growth had eased more significantly in Q2 2019 as the

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