Yen in Focus as BOJ, Fed Rate Hikes Reshape Currency Markets 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Fed Unveils Stablecoin Rules Under GENIUS Act 
BOJ Signals Faster Rate Hikes as Inflation Risks Grow 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Add as a preferred source on Google
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.
