Singapore tightens its monetary policy to cope with inflation | Economy
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The central bank of Singapore announced on Thursday a tightening of its monetary policy for the first time in three years to face the rise in prices while the country announced a growth of the Gross Domestic Product (GDP) of 6.5% in the third quarter .
The Monetary Authority of Singapore (MAS), which acts as the central bank of the city-state, indicated that it would “slightly increase the exchange rate policy band of the Singaporean dollar from 0%, to guide a modest appreciation of the currency” with the objective to deal with inflation, estimated at 2.4% until August.
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