Singapore MAS Policy Tightening Expectations Rise as Price Pressures Build

Singapore MAS policy tightening inflation expectations are rising as economists increasingly expect the Monetary Authority of Singapore to raise its 2026 inflation forecasts and tighten policy in April.

Core inflation accelerated to a 14-month high of 1.4% in February, while headline inflation eased to 1.2%, but MAS and the trade ministry warned imported cost pressures could rise as energy prices increase.

Several banks, including Maybank, Bank of America and Standard Chartered, said the central bank could steepen the Singapore dollar nominal effective exchange-rate policy slope next month, although Barclays expects no change until later.

Economists said the Singapore MAS policy tightening inflation outlook could also be driven by higher electricity tariffs, transport surcharges and wage increases.