MAS outlook splits as Morgan Stanley calls April tightening

Singapore Business Review
2026.02.02 23:19
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Morgan Stanley anticipates the Monetary Authority of Singapore (MAS) will tighten policy in April, citing increased inflation projections and a positive output gap. In contrast, CGS International believes MAS will maintain its current policy unless GDP growth exceeds expectations or inflation rises significantly. Both firms raised their 2026 inflation forecasts to 1% to 2%, with Morgan Stanley suggesting a steeper S$NEER appreciation, while CGS views MAS's stance as cautiously hawkish, expecting limited tightening potential.