opted for exchange rate tweaks instead of domestic lending rates adjustments
Singapore's central bank, the Monetary Authority of Singapore (MAS) will maintain its exchange rate policy band known as the Singapore dollar nominal effective exchange rate or S$NEER and continue to closely monitor global and domestic economic developments, including inflation and growth risks
Singapore's central bank, the Monetary Authority of Singapore (MAS), has kept its monetary policy unchanged in the first quarterly meeting of 2024. The MAS will maintain its exchange rate policy band known as the Singapore dollar nominal effective exchange rate or S$NEER and continue to closely monitor global and domestic economic developments, including inflation and growth risks. Unlike other central banks that tweak their domestic lending rates, MAS opts to tweak the exchange rates of its currency.
Singapore's central bank left its policy unchanged in the first quarterly monetary policy decision of 2024
The Monetary Authority of Singapore (MAS) will maintain its exchange rate policy band known as the Singapore dollar nominal effective exchange rate or S$NEER
Beginning this year, MAS shifted from a twice-a-year review of its monetary policy to a quarterly issue of statements
Accuracy
No Contradictions at Time
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Deception
(100%)
None Found At Time Of
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Fallacies
(85%)
The article contains several fallacies. The author uses an appeal to authority by citing the Monetary Authority of Singapore (MAS) without providing any context or evidence for their credibility. Additionally, the author commits a false dilemma by presenting only two options for inflation and growth in 2024: either it will improve or not. The article also contains an example of inflammatory rhetoric when the author describes Singapore's economy as
The MAS opts to tweak the exchange rates of its currency rather than domestic lending rates, which is a form of inflationary rhetoric.
Singapore raised its goods and services tax by one percentage point on Jan. 1, which could lead to an increase in core inflation.
Bias
(85%)
The article contains examples of religious bias and monetary bias. The author uses language that dehumanizes people who hold certain beliefs or political positions.
> Singapore's central bank left its policy unchanged on Monday in its first quarterly monetary policy decision of 2024, as expected.
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Conflicts
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Interest (50%)
The article discusses the Monetary Authority of Singapore (MAS) and its exchange rate policy band. The author is Shreyashi Sanyal who has a financial tie with Goldman Sachs which could compromise her ability to act objectively on this topic.
Singapore's central bank kept its monetary policy settings unchanged for a third straight time.
, which uses the exchange rate as its main policy tool rather than interest rates, maintained the slope, width, and center of the currency band.
, it said in a statement Monday. The move will keep the local dollar on an appreciating path to blunt imported price gains.
Accuracy
The move will keep the local dollar on an appreciating path to blunt imported price gains.
Deception
(30%)
The article is deceptive in several ways. Firstly, the author uses sensationalism by stating that Singapore's central bank kept its monetary policy settings unchanged for a third straight time amid expectations for inflation to ease only later this year. This statement implies that the MAS has been unable to control inflation despite keeping its monetary policy settings unchanged, which is not entirely accurate. Secondly, the author uses selective reporting by stating that any easing could be farther down the road without providing any context or evidence for this claim. Lastly, the article does not disclose sources and therefore cannot be verified.
The statement 'Singapore's central bank kept its monetary policy settings unchanged for a third straight time amid expectations for inflation to ease only later this year'
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None Found At Time Of
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None Found At Time Of
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Conflicts
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Interest (50%)
Swati Pandey has a conflict of interest on the topics of Singapore, MAS, monetary policy, inflation and exchange rate as she is an employee of Bloomberg which provides financial news and data to institutional investors. This puts her in direct competition with the Monetary Authority of Singapore (MAS) who regulates the country's banking system.
Swati Pandey reports on monetary policy, inflation, exchange rate and interest rates for a company that competes directly with MAS.
Author
Conflicts
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Swati Pandey has a conflict of interest on the topics of Singapore, MAS, monetary policy, inflation and exchange rate as she is an author for Bloomberg News which may have financial ties to these topics.
MAS kept its exchange rate-based monetary policy unchanged on Monday (Jan 29)
The Singapore central bank will maintain the prevailing rate of appreciation of its Singapore dollar nominal effective exchange rate (S$NEER) policy band
Prospects for the Singapore economy should continue to improve in the year ahead, with gross domestic product (GDP) growth projected to come in between 1 and 3 per cent
Core inflation is expected to decline gradually and step down by the fourth quarter before falling further next year, MAS added
Accuracy
No Contradictions at Time
Of
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Deception
(100%)
None Found At Time Of
Publication
Fallacies
(85%)
The article contains an appeal to authority fallacy by stating that the Monetary Authority of Singapore (MAS) kept its exchange rate-based monetary policy unchanged on Monday (Jan 29), standing pat for the third consecutive meeting and in line with market expectations. The author also uses a dichotomous depiction when describing inflation, stating that core inflation is expected to decline gradually and step down by the fourth quarter before falling further next year while headline inflation is forecast at 1-2.5%.
The Monetary Authority of Singapore (MAS) kept its exchange rate-based monetary policy unchanged on Monday (Jan 29), standing pat for the third consecutive meeting and in line with market expectations.
Bias
(85%)
The article is biased towards the Monetary Authority of Singapore (MAS) and its monetary policy decisions. The author presents MAS's statements without any critical analysis or questioning. The article also uses language that depicts MAS as an expert in managing monetary policy through letting the local dollar rise or fall against the currencies of its main trading partners within an undisclosed band, known as the S$NEER. This reinforces MAS's authority and expertise on this topic.
The article presents MAS's statements without any critical analysis or questioning.
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Conflicts
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There are multiple conflicts of interest found in the article.
MAS is a government agency and therefore has an inherent conflict of interest when it comes to monetary policy decisions. The fact that MAS keeps monetary policy unchanged for three consecutive times suggests that they may be more concerned with maintaining stability than addressing inflationary pressures, which could benefit the financial sector.
The article mentions the global electronics cycle and global interest rates, suggesting a potential conflict of interest between Singapore's manufacturing and financial sectors. Additionally, MAS has been criticized in previous articles for its close ties to the government and corporate interests.
The Monetary Authority of Singapore kept its monetary policy unchanged on Monday.
, continuing its tight stance as inflation persists in the city-state.
Rather than interest rates, Singapore's monetary policy is centered on exchange rates, allowing the local dollar to rise or fall against the currencies of major trading partners to stabilize prices.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(50%)
The article is deceptive because it does not provide any evidence or sources for the claim that inflation persists in Singapore. It also implies that the central bank's tight stance is necessary to stabilize prices, without explaining how this affects the economy or the people of Singapore. The author uses emotional language such as 'persists', which may manipulate readers into believing that there is a serious problem with inflation. Additionally, the article does not disclose any sources for its information, making it unclear where the data and analysis come from.
Singapore -- The Monetary Authority of Singapore, the central bank, on Monday kept its monetary policy unchanged, continuing its tight stance as inflation persists in the city-state.
The Monetary Authority of Singapore's headquarters in Singapore.
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Central bank releases first decision under new quarterly schedule
Rather than interest rates, Singapore's monetary policy is centered on exchange rates, allowing the local dollar to rise or fall against the currencies of major trading partners to stabilize prices.
Fallacies
(85%)
The article contains an appeal to authority fallacy by stating that the Monetary Authority of Singapore is responsible for setting monetary policy in Singapore. The author also uses a dichotomous depiction when describing inflation as persisting and not being addressed through interest rates.
> Rather than interest rates, Singapore's monetary policy is centered on exchange rates,
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (50%)
DYLAN LOH has a conflict of interest on the topic of Monetary Authority of Singapore as he is an employee and author for Nikkei Asia. The article discusses exchange rates and major trading partners which are also topics that could be considered conflicts of interest.
Author
Conflicts
Of
Interest (50%)
The author has a conflict of interest on the topic of monetary policy as they are an employee of the Monetary Authority of Singapore (MAS), which is responsible for setting and implementing monetary policy in Singapore. The article also mentions MAS's major trading partners, indicating that there may be financial ties between MAS and these countries.
The article mentions that Singapore's major trading partners include China and Japan, which could indicate financial ties between MAS and these countries.
The author writes 'As a central bank, the Monetary Authority of Singapore (MAS) has been keeping its key interest rates unchanged since June 2019 to support economic growth.'
