MAS unexpectedly tightens policy, raising SGD NEER slope to 1.25%

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Summary · why it matters

The Monetary Authority of Singapore unexpectedly tightened policy on 27 July 2026 by raising the Singapore Dollar Nominal Effective Exchange Rate slope to 1.25%, according to HSBC’s Abhilash Narayan. The move surprised markets and is expected to support the Singapore dollar.

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