SGD: MAS tightening path supports currency – Standard Chartered
Ni FXStreet Insights Team
Na-update: 1 Apr 2026
Sikat na Artikulo
Standard Chartered’s Edward Lee and Jonathan Koh expect the Monetary Authority of Singapore to steepen the SGD NEER slope by 50bps in April, partially reversing pre-emptive easing from H1-2025 while keeping the band unchanged.
Standard Chartered’s Edward Lee and Jonathan Koh expect the Monetary Authority of Singapore to steepen the SGD NEER slope by 50bps in April, partially reversing pre-emptive easing from H1-2025 while keeping the band unchanged. They highlight higher Oil prices, increased inflation forecasts, and Singapore’s safe-haven status, and prefer to fade dips in SGD NEER around 1.0–1.5% above the policy mid-point.
MAS stance underpins Singapore Dollar
"We expect the Monetary Authority of Singapore (MAS) to steepen the SGD NEER slope by 50bps in April to +1.0% per annum, while keeping the centre and the +/-2% policy band unchanged."
"Reflecting higher oil prices, we raise both our core and headline inflation forecasts for 2026 to 2.5% from 1.5% previously."
"On balance, we expect the MAS to first partially remove 2025’s pre-emptive easing and then assess the evolving Middle East situation."
"We maintain our constructive outlook on the SGD versus regional peers."
"As a result, we prefer to fade dips in SGD NEER at c.1.0-1.5% above the mid-point of the policy band."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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