MAS eases monetary policy as economy reels from impact of COVID-19
SINGAPORE: The Monetary Authority of Singapore (MAS) eased monetary policy on Monday (Mar 30), in line with expectations, as the economy reels ...
AdvertisementUnlike most central banks that target the interest rate, the MAS uses the exchange rate as its main policy tool.This refers to the S$NEER – the exchange rate of the Singapore dollar managed against a trade-weighted basket of currencies from Singapore’s major trading partners.
The S$NEER is allowed to float within an unspecified band. Should it go out of this band, the MAS steps in by buying or selling Sing dollars.The central bank also changes the slope, width and mid-point of this band when it wants to adjust the pace of appreciation or depreciation of the local currency based on assessed risks to Singapore’s growth and inflation.
It typically announces these changes at its two scheduled policy meetings in April and October.Monday’s policy decision comes earlier than usual amid worsening economic conditions this month as the COVID-19 outbreak continues around the world.Preliminary growth figures released last week showed the economy shrinking a
worse-than-expected 2.2 per centyear-on-year in the first quarter. Read more: CNA »
Basic food like apples would be even more expensive now. Sigh. Oh dear! Basic food like apples would be even more expensive now. Sigh.
Covid-19: ICA cancels passport of Singapore citizen for breaching stay-home noticeSINGAPORE — The Immigration & Checkpoints Authority (ICA) has cancelled the passport of Goh Illya Victor, 53, for breaching stay-home notice (SHN) requirements, ICA said in a statement on Sunday (March 29). This is the first such action authorities have taken against a Singapore citizen. 'revoked a total of 89 work passes' 😬 banyaknya orang degil tak paham bahasa
COVID-19: Foreign students, long-term visit pass holders must get approval before coming to SingaporeSINGAPORE — From 11.59pm on Sunday (29 March), all foreign students and long-term visit pass holders must obtain permission before they can begin their journeys to Singapore. How to get approval.... My appeal for entry in Singapore is rejected ...... Now again when is rite time for do appeal again?
COVID-19: Entry approval required for all long-term pass holders entering SingaporeSINGAPORE: All long-term pass holders will require an entry approval before entering or returning to Singapore from Sunday (Mar 29) at 11.59pm, ... quarantine order is in effect Why govt still allow LTPH to return? Can’t we wait till the tide settle down first? These are foreigners, probably fm countries that hv worse conditions than us. U mean getting our own overseas Sporeans back to handle them still not enough? Pls dun tire out our frontliners! 😬🙏 Good move..! LTPH and their dependents should not be allowed in
Singapore reports 70 new COVID-19 cases, including 41 importedSINGAPORE: Singapore reported 70 new cases of COVID-19 on Saturday (Mar 28), bringing the total number of cases to 802, including two more ... Now is a good time to close the schools please before youths get infected too wth.. still dont close.. waiting for christmas or chinese new year? My god...please implement online classes and wfh measures. Alr so many people kenna leh.
COVID-19: Singapore confirms 70 new cases, 41 imported; total at 802SINGAPORE — The Ministry of Health (MOH) on Saturday (28 March) announced 70 new COVID-19 cases in Singapore, taking the country’s total to 802.
Covid-19: 70 new cases in Singapore, 2 police officers infected to dateSINGAPORE — Singapore has confirmed another 70 new cases of Covid-19, the Ministry of Health (MOH) said on Saturday (March 28), bringing the total here to 802.