Singapore's Central Bank Has Room to Hold in October
Dow Jones
10 hours ago
0308 GMT - The Monetary Authority of Singapore has room to hold its policy settings in October, unless price pressures broaden materially, Commerzbank Research analysts say in a note. Headline July CPI rose 2.2% from a year earlier, up from June's 1.9%. The pickup in inflation reflects the lag in pass-through of higher energy costs into electricity and gas tariffs, they note. Core goods and services prices rose only modestly last month, suggesting that the energy shock hasn't sparked a broad-based second-round of inflation. MAS's move to tighten in July can also be seen as a pre-emptive move to contain pass-through from imported inflation, while economic growth remains strong.
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