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Economy

Singapore keeps monetary policy tight, lowers inflation outlook

Central bank expects price pressure to ease further later this year

Singapore's inflation figures came in lower than expected.   © AFP/Jiji

SINGAPORE -- Singapore's central bank on Friday kept its monetary policy unchanged for a fifth consecutive meeting, even as the latest inflation figures came in lower than expected.

Rather than interest rates, the city-state's monetary policy is centered on exchange rates, allowing the local dollar to rise or fall against the currencies of major trading partners to stabilize prices.

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