'Well-Behaved' Singapore Inflation May Open Door to Policy Adjustment -- Market Talk

Dow Jones

Dec 23, 2024

0729 GMT - Singapore's headline and core inflation are likely to remain "well-behaved" going forward, Goldman Sachs strategists say after the release of the economy's data for November. Last month's print came below GS's expectations, even as transportation inflation contributed 8 bps to the headline reading. Inflation remaining under control, coupled with moderating growth amid rising uncertainties surrounding global trade, would make room for the Monetary Authority of Singapore to reduce the slope of the Singapore dollar nominal effective exchange rate slightly to 1.0% at its April meeting. GS estimates the slope of the S$NEER policy band at 1.5% currently. MAS uses the exchange rate as a policy tool instead of domestic interest rates. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

December 23, 2024 02:29 ET (07:29 GMT)

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Last month's print came below GS's expectations, even as transportation inflation contributed 8 bps to the headline reading. Inflation remaining under control, coupled with moderating growth amid rising uncertainties surrounding global trade, would make room for the Monetary Authority of Singapore to reduce the slope of the Singapore dollar nominal effective exchange rate slightly to 1.0% at its April meeting. GS estimates the slope of the S$NEER policy band at 1.5% currently. MAS uses the exchange rate as a policy tool instead of domestic interest rates. (fabiana.negrinochoa@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 23, 2024 02:29 ET (07:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Well-Behaved' Singapore Inflation May Open Door to Policy Adjustment -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Well-Behaved' Singapore Inflation May Open Door to Policy Adjustment -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-12-23 15:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0729 GMT - Singapore's headline and core inflation are likely to remain \"well-behaved\" going forward, Goldman Sachs strategists say after the release of the economy's data for November. 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Last month's print came below GS's expectations, even as transportation inflation contributed 8 bps to the headline reading. Inflation remaining under control, coupled with moderating growth amid rising uncertainties surrounding global trade, would make room for the Monetary Authority of Singapore to reduce the slope of the Singapore dollar nominal effective exchange rate slightly to 1.0% at its April meeting. GS estimates the slope of the S$NEER policy band at 1.5% currently. MAS uses the exchange rate as a policy tool instead of domestic interest rates. 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