SINGAPORE, April 12 (Xinhua) -- The Singapore dollar will maintain appreciation as inflation is likely to continue rising, the Monetary Authority of Singapore (MAS) announced in its Monetary Policy Statement on Friday.
The MAS estimated that core inflation will remain elevated in the earlier part of this year but should step down in the fourth quarter before falling further into 2025.
"The prevailing rate of appreciation will keep a restraining effect on imported inflation and domestic cost pressures," said the MAS, noting that current monetary policy settings remain appropriate under such conditions.
Both core inflation and all-items inflation are projected to come between 2.5 percent and 3.5 percent in 2024, according to the MAS. ■
