Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
Bank of Japan Warns of Regional Economic Risks Amid Middle East Conflict and Rising Oil Prices 
Paraguay Holds Interest Rate at 5.5% as Inflation Remains Stable Amid Global Uncertainty 
RBI Clamps Down on Rupee NDF Activity, Banks Face Steeper Losses 
India's Central Bank Holds Rates Amid Iran War Energy Shock 
Bank of America Maintains Forecast for Two Fed Rate Cuts in 2026 Despite Inflation Risks 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Bank of Japan's Ueda Flags Low Real Interest Rates as Key Factor in Rate Hike Timing 
The Monetary Authority of Singapore (MAS) left policy stance unchanged at the monetary policy meeting held today, largely in line with expectations. Moreover, it is likely to remain neutral in the long-term. The Monetary Policy Statement was dovish.
The surprise contraction in Q3 GDP reinforces our view that tough times are here to stay, and we are revising down our 2016 and 2017 GDP growth forecasts to 1.2 percent and 1.4 percent respectively (from 1.9 percent and 2.0 percent previously).
MAS has introduced a form of forward guidance, stating that a neutral policy stance will be needed for an extended period of time.
"We still see the risk of the next move by MAS to be an easing, and expect the S$NEER to gradually head below the midpoint," ANZ commented in its latest research note.
