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在线翻译:
szdaily -> World Economy -> 
Singapore tightens policy
    2018-04-16  08:53    Shenzhen Daily

SINGAPORE’S central bank tightened monetary policy for the first time in six years Friday, saying the city-state’s economy is expected to continue growing steadily even as it acknowledged risks from a trade spat between the United States and China.

The Monetary Authority of Singapore (MAS) said it would slightly increase the slope of the Singapore dollar’s policy band from zero percent previously, while keeping the width and mid-point of the band unchanged.

“The measured adjustment to the policy stance takes into account the uncertainty in macroeconomic outcomes presented by ongoing trade tensions,” the central bank said.

The policy tightening was in line with expectations, and came as official data showed the city-state’s economy expanded 4.3 percent in the first quarter from a year earlier, matching market expectations and the fastest pace since a near four-year high of 5.5 percent in the third quarter of last year.

The return of global growth in recent years has prompted some Asian central banks to follow in the footsteps of the U.S. Federal Reserve in gradually shifting away from extremely accommodative monetary settings.

They include Malaysia’s central bank, which tightened policy in January and the Bank of Korea, which raised interest rates in November.

The MAS’s tightening takes it away from a “neutral” stance adopted two years ago, a setting it has resorted to in the past when the global economy deteriorated, including an 18-month period from October 2008 during the global financial crisis.

With the Sino-U.S. trade dispute posing risks to Singapore’s trade-reliant economy, some analysts were skeptical the MAS would tighten again at its next decision in October. (SD-Agencies)

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