South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
Thailand Economy Faces Competitiveness Challenges as Strong Baht and U.S. Tariffs Pressure Exports 
Markets React as Tensions Rise Between White House and Federal Reserve Over Interest Rate Pressure 
Indonesian Stocks Plunge as MSCI Downgrade Risk Sparks Investor Exodus 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Fed Confirms Rate Meeting Schedule Despite Severe Winter Storm in Washington D.C. 
China Holds Loan Prime Rates Steady in January as Market Expectations Align 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
U.S. Dollar Slides for Second Week as Tariff Threats and Iran Tensions Shake Markets 
Gold Prices Pull Back After Record Highs as January Rally Remains Strong 
New York Fed President John Williams Signals Rate Hold as Economy Seen Strong in 2026 
Economists remain divided on whether the Monetary Authority of Singapore (MAS) will ease monetary policy at its upcoming review or maintain current settings. A Reuters poll of 12 analysts revealed an even split: six predict MAS will loosen its currency-based policy, while the other half expect no change.
Singapore's inflation and robust 2024 economic growth at 4% have fueled speculation. MAS has held policy steady since a tightening in October 2022, the fifth consecutive adjustment then, citing broader growth concerns. The central bank last eased in March 2020 during the global COVID-19 downturn.
MAS manages policy via the Singapore dollar nominal effective exchange rate (S$NEER), adjusting its slope, midpoint, and band width. Maybank economist Chua Hak Bin expects a gentler appreciation in the slope due to a softer inflation outlook. Core and headline inflation, now below 2% from a 5.5% peak in early 2023, are forecasted to decline further in 2025.
Bank of America analysts predict no immediate changes but anticipate easing in April when global cost trends and Singapore’s budget impact become clearer. Standard Chartered economist Jonathan Koh and BMI’s Lee Yen Nee suggest MAS will likely hold policy steady to assess potential ripple effects from U.S. President Donald Trump’s second-term policies, which may influence inflation.
Globally, central banks favor cautious adjustments. While the Federal Reserve recently cut rates, it is expected to hold policy amid inflation concerns. Similarly, the European Central Bank has adopted a measured approach to further reductions.
As a trade-dependent economy, Singapore’s GDP forecast for 2025 stands at 1.0%-3.0%. MAS’s decision will signal its outlook amid global uncertainties.
