(Bloomberg) — Singapore’s central bank is likely to keep monetary policy unchanged Wednesday as it allows fiscal measures to do the heavy lifting in getting the city-state’s economy back on track.

The Monetary Authority of Singapore, which uses the currency as its main policy tool rather than interest rates, probably will refrain from changing any of the three currency band settings, according to all 19 economists surveyed by Bloomberg.

chart: Singapore Monetary Policy History

© Bloomberg
Singapore Monetary Policy History

The MAS — which typically makes policy decisions twice a year, in April and October — took the unprecedented step in its last announcement of lowering the midpoint of the currency band and reducing the slope to zero. That meant it would allow for a weaker exchange rate to head off deflation and support the export-reliant economy.


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Since then, the economy has plunged into recession amid the pandemic and the government has unleashed

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Sept 18 (Reuters)The dollar held broadly steady on Friday as EUR/USD returned to the middle of its recent range, while sterling stole the spotlight as fears about Brexit, negative rates and coronavirus outbreaks took a toll .

Sterling’s recovery earlier this week merely remedied oversold daily technical studies and Friday’s firmer-than-forecast retail sales were outweighed by the other mounting problems .

Another drop toward GBP/USD’s 200-day moving average support at 1.2730 remains possible if the sell-off in the S&P 500 persists next week. Cable has become highly correlated to the S&P 500, which dropped below its 50-day moving average.

EUR/USD returned to the middle of last week’s range after ricocheting away from the lower 30-day Bolli at Thursday’s 1.1737 five-week low. Euro zone countries are also dealing with rising COVID-19 cases .

The euro has been propped up to a certain extent by the ECB failing to ease

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