
Standard Chartered’s Edward Lee expects the Monetary Authority of Singapore (MAS) to deliver another very slight tightening in October, raising the SGD NEER slope to 1.5% from 1.25% while keeping the band parameters unchanged. Lee highlights broader inflation, upside risks to prices, firm growth and the likelihood that more of the H1-2025 pre-emptive easing will be unwound.
"We expect the Monetary Authority of Singapore (MAS) to again “very slightly” increase the SGD NEER slope in October to 1.5% from 1.25% currently, while keeping the centre and width of the policy bands unchanged."

"We estimate that move at 25bps and expect another increment of the same size in October, consistent with a calibrated response to elevated uncertainty."
"This may be a close call, with a pause as the main risk."
"Furthermore, we think another 25bps of the H1-2025 pre-emptive easing is yet to be unwound."
"Inflation makes a strong case for continuing to tighten."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)