The Monetary Authority of Singapore (MAS) announces its monetary policy decision on 14 April. MAS is expected to re-centre the Singapore nominal effective exchange rate (SGD NEER) to the prevailing SGD NEER level. This will givethe MAS more flexibility, while allowing slight SGD NEER appreciation. “We currently estimate the slope at 1% per annum. We note the risk that the MAS will widen the SGD NEER band or make no change to monetary policy”, said Standard Chartered on Friday. Singapore also releases advance Q1-2015 GDP estimates on 14 April. The GDP growth is seen at 1.2% y/y, versus 2.1% in Q4-2015, due to sluggish manufacturing activity.
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