SINGAPORE - The Monetary Authority of Singapore said on Monday that it will set the rate of the Singapore dollar's appreciation to zero per cent at the prevailing lower level of its exchange policy rate band, given that the economy will enter a recession this year.
What are monetary policies? Monetary policies control inflation, the consumption of goods and services, and liquidity, among other economic objectives.For example, in an economic downturn, the central bank might want to depreciate the currency to make its exports more attractive to foreign buyers. Its aim is to keep the Singdollar's value stable in the middle-term, which could mean in the next two and five years.
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