0719 GMT - The SGD nominal effective exchange rate has fallen recently, according to Maybank's FX analysts in a research report; that potentially foreshadows easing by the Monetary Authority of Singapore later this month. SGD NEER was last estimated at 0.75% above the mid-point of the MAS' policy band, compared with the average of 1.07% above the mid-point since MAS' October meeting last year, the analysts note. SGD NEER's decline is mostly in line with broader USD strength. Given present balance of risks, with inflation abating and a challenging external environment, there's a higher probability that the MAS will ease this month through a slight slope easing, the analysts say. The MAS is scheduled to release its quarterly policy statement this Friday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 02:19 ET (07:19 GMT)
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