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MAS to stand pat on policy through 2021, Singapore's GDP to grow 5.8%: Fitch Solutions

Atiqah Mokhtar
Atiqah Mokhtar4/15/2021 10:10 AM GMT+08  • 3 min read
MAS to stand pat on policy through 2021, Singapore's GDP to grow 5.8%: Fitch Solutions
Fitch Solutions expects real GDP to grow by 5.8% in 2021, compared to a 5.2% contraction in 2020.
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Fitch Solutions is maintaining its expectations that the Monetary Authority of Singapore (MAS) will keep its monetary policy unchanged through 2021, along with its Singapore real GDP growth forecast of 5.8% for the year.

The reiterated expectations follow MAS’ half-yearly review as well as Singapore’s 1Q2021 GDP figures released by the Ministry of Trade and Industry (MTI) on April 14.

MAS left its slope, width and mid-point of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged. It also expects inflation to gradually pick but remain benign and low in 2021, with a revised forecast range of 0.5% to 1.5% in 2021.

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