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MNI MAS Preview - Jan 2024: No Change Amidst Resilient Inflation/Growth Backdrop

EXECUTIVE SUMMARY

  • For the January MAS policy meeting the consensus looks for no change, which also fits with our firm bias. Developments since the last policy meeting in October don’t warrant a shift in MAS’s policy stance. Core inflation pressures have based somewhat, while offshore developments (supply chains etc) are likely to leave the MAS's cautious around the broader price backdrop.
  • Reasonable growth momentum into end 2023 also doesn't suggest a need for an imminent policy change/bias in a dovish direction either.
  • The general sell-side view point is for easier MAS policy settings eventually, but like elsewhere in the region, at the start of 2024 is likely too early for such a shift.
  • Full preview here:

    • MAS Preview - January 2024.pdf


Asia Bank - PreviewHomepageMonetary Authority of SG - PreviewEM Central Bank ReportsEM Central Bank PreviewEmerging Market News
Asia Bank - PreviewHomepageMonetary Authority of SG - PreviewEM Central Bank ReportsEM Central Bank PreviewEmerging Market News

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