10 Oct '12, 12am

Singapore may ease currency gain as growth slows

Singapore may ease currency gain as growth slows

The Monetary Authority of Singapore will probably slow the pace of appreciation in the local dollar as moderating price pressures provide scope for measures to support economic growth, according to a survey of analysts. Officials will curb gains in Singapore’s currency when they meet Oct. 12 by decreasing the slope of its trading band, according to 17 of 23 financial companies surveyed by Bloomberg News. Two said there’s a chance the MAS will widen the band in addition to reducing its slope. Five predict no change, while one projected a shift to a zero slope, the poll showed. Recent data have shown bigger-than-forecast declines in manufacturing and exports, leading economists and investors to flag the risk of a technical recession. Singapore cut its 2012 growth forecast in August, and a report last month indicated the slowest pace of inflation in almost two years. That mea...

Full article: http://www.bloomberg.com/news/2012-10-09/singapore-may-ea...

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