SINGAPORE, Oct 14 (Reuters) - Singapore’s central bank eased its monetary policy for the first time in three years on Monday, as widely expected.
In a statement, the Monetary Authority of Singapore (MAS) said it would lower slightly the slope of the Singapore dollar’s policy band, while the width and centre of the band would not be changed.
The MAS manages monetary policy through exchange rate settings, rather than interest rates, letting the Singapore dollar rise or fall against the currencies of its main trading partners within an undisclosed band.
Eleven economists polled by Reuters had all expected Singapore would join a global trend toward policy easing as economic uncertainties mount. (Reporting by Singapore Newsroom; Editing by Sam Holmes)