S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketThe Monetary Authority of Singapore (MAS) tightened its policy stance for the first time in three years on Tuesday, in a widely expected move, as it braces for potential economic fallout from the Middle East conflict. The central bank slightly increased the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) band, while keeping its width and centre unchanged. Policymakers expect Singapore’s GDP growth to ease this year, with output gap averaging around zero. At the same time, rising imported energy costs and broader price pressures are likely to lift MAS Core Inflation in the near term. Forecasts for both MAS Core Inflation and CPI-All Items inflation were raised to 1-1/2% to 2-1/2% from 1% to 2.0%. Private transport costs are set to increase due to higher fuel prices, offset by softer inflation in accommodation. MAS stressed it remains well-positioned to safeguard medium-term price stability and stands ready to curb excessive volatility in the S$NEER.
