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Central BanksMediumUpdated•Originally published 14 October 2026•Updated 14 October 2026•
1 min read

MAS Holds Policy Steady Surprising Analysts Expecting Tightening

Key Facts

1The Monetary Authority of Singapore kept the rate of appreciation, width, and centre of its S$NEER policy band unchanged.
2The decision surprised all 10 analysts polled by Reuters who had expected a tightening of monetary policy.
3MAS forecasts core inflation to average between 1.5% and 2.0% in 2026.

The Monetary Authority of Singapore (MAS) kept the rate of appreciation, width, and centre of its S$NEER policy band unchanged on October 14, 2026. Reuters reported that the decision surprised all 10 analysts polled by the agency, who had unanimously expected a tightening of monetary policy.

MAS forecasts core inflation to average between 1.5% and 2.0% in 2026, betting that price pressures will ease as the AI boom cools and global financial conditions tighten. While the central bank expects the economy to expand at a firm pace in the immediate quarters, it remains wary of potential energy price shocks that could necessitate future policy adjustments.

Latest Updates · 1

  1. Notable·

    Update: Khoon Goh of ANZ explained that the decision to hold was intended to allow time for the effects of two previous tightening moves in April and July 2026 to feed through the economy. The bank noted that MAS could resume monetary tightening in 2027 if inflation risks materialize, emphasizing that the current hold does not signal the end of the tightening cycle.