The Monetary Authority of Singapore (MAS) is expected to maintain its current Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy stance during its Monetary Policy Committee (MPC) meeting on 27 July 2026, according to RHB Bank’s latest report. The decision is anticipated amidst Singapore’s resilient economic growth and manageable inflation levels.
RHB Bank’s Group Chief Economist and Head of Market Research, Barnabas Gan, highlighted three key factors supporting this forecast. Firstly, Singapore’s economic growth remains robust, bolstered by improving macroeconomic conditions. Secondly, whilst inflation is manageable, some upward pressure is expected in the second half of 2026. Lastly, the S$NEER still has room for movement within its current band, which is perceived to have an appreciation of 1.0% with a band width of +/- 2.0%.
The upcoming MPC meeting will be the third for the year, and the decision to maintain the current policy stance reflects confidence in the country’s economic stability. The report underscores the importance of these factors in guiding MAS’s policy decisions, ensuring that Singapore’s economy continues to thrive amidst global uncertainties.
As the central bank prepares for its meeting, the focus remains on sustaining economic growth whilst keeping inflation in check. The outcome of the meeting will be closely watched by market participants and policymakers alike, as it will provide further insights into Singapore’s economic trajectory for the remainder of the year.
