Singapore's MAS October Statement: Third-Quarter GDP Up 5.4 Percent on Advance Estimates as S$NEER Holds Appreciation Path
SINGAPORE — The Monetary Authority of Singapore's October monetary policy statement showed the economy grew 5.4 percent year on year in the third quarter on advance estimates, and 1.1 percent quarter on quarter on a seasonally adjusted basis. In its July review, the MAS had slightly increased the rate of appreciation of the S$NEER policy band; over the intervening period, the Singapore dollar nominal effective exchange rate strengthened modestly in the upper half of the band. Singapore conducts monetary policy by managing the exchange rate against a basket of currencies rather than through interest rates, and the MAS reviews its stance several times a year.
Source: GSM · USA (original Chinese edition)
Photo: 新加坡滨海湾 / Marina Bay, Singapore。图片：© Benh LIEU SONG (Flickr) / CC BY-SA 4.0，Wikimedia Commons
