MAS Expected to Hold Policy Steady as Inflation Pickup Keeps Tightening Option Open

Singapore, 24 July 2026 – The Monetary Authority of Singapore is expected to leave its exchange-rate policy unchanged at its upcoming review, although a gradual pickup in inflation and continuing energy-price risks could prompt the central bank to signal that further tightening remains possible later this year.

Singapore’s core inflation accelerated to 1.6% year-on-year in June, up from 1.4% in May, as food, services, retail and other goods recorded stronger price increases. On a month-on-month basis, core consumer prices edged up by 0.1%. Ministry of Trade and Industry