India, Oct. 14 -- The Monetary Authority of Singapore unexpectedly kept its monetary policy unchanged on Wednesday after two consecutive tightening.
The MAS maintained the rate of appreciation of the policy band. Also, there will be no change to the width of the band and the level at which it is centered, the bank said in a statement. The bank was widely expected to tighten the policy.
Rather than adjusting interest rates, the MAS use the exchange rate against a basket of currencies within an undisclosed band as its monetary policy tool.
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