MAS Annual Report Seems Dovish, Setting Stage for Easing in July -- Market Talk

Dow Jones

Jul 16, 2025

0513 GMT - MAS's annual report seems dovish, say BofA Global Research's economists in a research report. This likely sets the stage for monetary policy easing via flattening of the slope of the Singapore dollar's nominal effective exchange rate band in July, the economists say. The MAS uses the exchange rate as a policy tool to maintain price stability given the city-state's small and open economy. BofA cites MAS' comments such as core inflation seen as "subdued" and greater concern over expected growth slowdown ahead. Also, some commentary is similar to the MAS' language used in April 2016 when the slope was flattened. There is also a stronger emphasis on MAS' price stability mandate, providing an "anchor of stability" for the economy, BofA adds. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 16, 2025 01:13 ET (05:13 GMT)

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This likely sets the stage for monetary policy easing via flattening of the slope of the Singapore dollar's nominal effective exchange rate band in July, the economists say. The MAS uses the exchange rate as a policy tool to maintain price stability given the city-state's small and open economy. BofA cites MAS' comments such as core inflation seen as \"subdued\" and greater concern over expected growth slowdown ahead. Also, some commentary is similar to the MAS' language used in April 2016 when the slope was flattened. There is also a stronger emphasis on MAS' price stability mandate, providing an \"anchor of stability\" for the economy, BofA adds. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 16, 2025 01:13 ET (05:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 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>MAS Annual Report Seems Dovish, Setting Stage for Easing in July -- 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\">\nMAS Annual Report Seems Dovish, Setting Stage for Easing in July -- 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\">2025-07-16 13:13</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0513 GMT - MAS's annual report seems dovish, say BofA Global Research's economists in a research report. This likely sets the stage for monetary policy easing via flattening of the slope of the Singapore dollar's nominal effective exchange rate band in July, the economists say. The MAS uses the exchange rate as a policy tool to maintain price stability given the city-state's small and open economy. BofA cites MAS' comments such as core inflation seen as \"subdued\" and greater concern over expected growth slowdown ahead. Also, some commentary is similar to the MAS' language used in April 2016 when the slope was flattened. There is also a stronger emphasis on MAS' price stability mandate, providing an \"anchor of stability\" for the economy, BofA adds. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 16, 2025 01:13 ET (05:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1620156213.USD","symbol_name":"BNP PARIBAS AQUA \"C\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2551112940","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2551112940","pubTimestamp":1752642780,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0513 GMT - MAS's annual report seems dovish, say BofA Global Research's economists in a research report. This likely sets the stage for monetary policy easing via flattening of the slope of the Singapore dollar's nominal effective exchange rate band in July, the economists say. The MAS uses the exchange rate as a policy tool to maintain price stability given the city-state's small and open economy. BofA cites MAS' comments such as core inflation seen as \"subdued\" and greater concern over expected growth slowdown ahead. Also, some commentary is similar to the MAS' language used in April 2016 when the slope was flattened. There is also a stronger emphasis on MAS' price stability mandate, providing an \"anchor of stability\" for the economy, BofA adds. 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This likely sets the stage for monetary policy easing via flattening of the slope of the Singapore dollar's nominal effective exchange rate band in July, the economists say. The MAS uses the exchange rate as a policy tool to maintain price stability given the city-state's small and open economy. BofA cites MAS' comments such as core inflation seen as \"subdued\" and greater concern over expected growth slowdown ahead. Also, some commentary is similar to the MAS' language used in April 2016 when the slope was flattened. There is also a stronger emphasis on MAS' price stability mandate, providing an \"anchor of stability\" for the economy, BofA adds. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 16, 2025 01:13 ET (05:13 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}