Bloomberg.com
12 Aug 2008
By Patricia Lui
Aug. 12 (Bloomberg) -- The Monetary Authority of Singapore will slow the pace of the local dollar's appreciation at the next policy review in October to support slowing exports, said Standard Chartered Plc.
The Singapore dollar declined to a five-month low after the government yesterday forecast exports to post an annual decline for the first time since 2001 and said its economy expanded at the slowest pace in five years. The government last week cut its 2008 growth forecasts, adding pressure on the MAS to reverse its policy of allowing currency strength to combat the highest inflation rate since 1982.
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