* Singapore narrowly avoids technical recessionSINGAPORE, Oct 14 - Singapore's central bank eased monetary policy for the first time in three years on Monday, as widely expected, with the city-state's bellwether economy narrowly dodging recession.
MAS said it would"reduce slightly" the slope of the Singapore dollar's policy band, using wording that suggested a shallower easing than some had expected. The width and level at which the band was centred was unchanged."It's a slight reduction in the rate of appreciation. They did not say the policy was neutral so it suggests that the slope is still positive," said Barclays economist Brian Tan.
MAS increased the slope of the policy band twice last year in efforts to control rising price pressures and strengthen its currency, in its first such tightening moves in six years. The Singapore government is expected to roll out a generous budget next year as polls loom and the ruling party seeks to appease voters who are feeling the pinch from the economic downturn.
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