The Monetary Authority of Singapore shuffled 45bn GSD over to the government, for long-term investment.
Some info coming through from the MAS today:
- says it will disclose further information on its monetary policy operations, without compromising their effectiveness
- will release data on its forex intervention operations
- forex intervention operations are integral to its management of the SGD NEER
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- Keep in mind SG manages monetary policy through the exchange rate and not interest rates - manages the SGD exchange rate against a trade-weighted basket of currencies of major trade partners
- The Sing dollar is allowed to float within an undisclosed policy band
- This is called the Singapore dollar nominal effective exchange rate (S$NEER)
- Its reviewed each half year, in April and October, at MAS policy meetings.
