(Corrects to remove alert that was not contained in the
SINGAPORE, April 13 Singapore's central bank
kept its exchange-rate based policy unchanged as expected on
Thursday, saying a "neutral" stance will be needed for an
extended period of time.
The Monetary Authority of Singapore said it will maintain
its rate of appreciation of the Singapore dollar at zero
percent, with the width of the policy band and the level at
which it is centred unchanged.
"A neutral policy stance is appropriate for an extended
period and should ensure medium-term price stability," the
Monetary Authority of Singapore (MAS) said in its semiannual
monetary policy statement.
The MAS manages monetary policy by changes to the exchange
rate, rather than interest rates, letting the Singapore dollar
rise or fall against the currencies of its main trading partners
because trade flows dwarf the city state's economy.
Eighteen of 19 analysts surveyed by Reuters had predicted
the MAS would keep monetary policy unchanged this month, while
the lone analyst expected an easing.
(Reporting by Singapore bureau; Editing by Shri Navaratnam)