Singapore's central bank eased monetary policy Friday for the first time in almost five years on expectations that inflation and economic growth will slow this year.

The Monetary Authority of Singapore said it would slightly reduce the slope of its exchange rate policy band, known as the Singapore dollar nominal effective exchange rate or S$NEER. MAS said Singapore's growth momentum is expected to slow over this year,

Singapore's central bank on Friday loosened its monetary policy, the first such move since 2020, saying it expects inflation and growth to be slower than it initially forecast this year. The Monetary Authority of Singapore (MAS),