0513 GMT - MAS's annual report seems dovish, say BofA Global Research's economists in a research report. This likely sets the stage for monetary policy easing via flattening of the slope of the Singapore dollar's nominal effective exchange rate band in July, the economists say. The MAS uses the exchange rate as a policy tool to maintain price stability given the city-state's small and open economy. BofA cites MAS' comments such as core inflation seen as "subdued" and greater concern over expected growth slowdown ahead. Also, some commentary is similar to the MAS' language used in April 2016 when the slope was flattened. There is also a stronger emphasis on MAS' price stability mandate, providing an "anchor of stability" for the economy, BofA adds. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 16, 2025 01:13 ET (05:13 GMT)

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