The central bank, which typically makes its monetary policy decision only twice a year, in April and October, said it will"slightly" raise the rate of appreciation of its monetary policy band. The midpoint of the policy band and its width will also remain unchanged.
MAS said it also expects overall inflation to come in at between 2.5 and 3.5 per cent in 2022, higher than the earlier forecast range of between 1.5 and 2.5 per cent. "There remain upside risks to inflation arising from the impact of pandemic-related and geopolitical shocks on global supply chains," said the central bank.
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