SINGAPORE, Oct 13 — Singapore’s economy grew faster than expected in the third quarter, preliminary government estimates showed Friday, as construction and services made up for...
SINGAPORE, Oct 13 — Singapore’s economy grew faster than expected in the third quarter, preliminary government estimates showed Friday, as construction and services made up for a continued slump in manufacturing.
The Monetary Authority of Singapore said in its half-yearly statement it will maintain the band at which the Singapore dollar is allowed to move.Singapore uses the exchange rate instead of interest rates to tackle inflation as it imports most of its needs. A stronger local dollar makes imported goods cheaper.
The MAS also said that from next year, it will make monetary policy statements on a quarterly basis instead of just twice a year as part of “continuing efforts to enhance monetary policy communications”.
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