Singapore Dollar: MAS stance supports resilience – MUFG

MUFG’s Lloyd Chan notes that Singapore’s economy grew 5.4% year-on-year in Q3, moderating from 2Q but beating consensus. MAS left the S$NEER policy band unchanged, expecting AI-related demand to support near-term growth even as the positive output gap narrows. Core inflation is seen slightly above 2% until 1H 2027, with SGD likely to stay relatively resilient.