Singapore: Time to position for MAS easing - ANZ

ANZ analysts suggest that they have changed their view on the Monetary Authority of Singapore (MAS) after last week’s poor advance Q2 GDP release, calling for a policy easing at the October review.

Key Quotes

“Our conviction of a MAS easing has strengthened after this week’s dismal Non-oil Domestic Exports (NODX) data.”

“Though we are still some way off the October meeting, and the US Federal Reserve looks set to cut the fed funds rate at the end of this month, we now recommend positioning for a weaker Singdollar. We cannot rule out the possibility of an intra-meeting move by MAS.”