Singapore's Dollar Rises While Government Tightens Monetary Policy

Singapore's Dollar Rises While Government Tightens Monetary Policy

Singapore said Thursday that it is tightening its monetary policy, with economic growth and inflation both expected approach the top of targeted ranges in 2011.

The move came as the government announced a rapid acceleration in economic growth for the January-through-March quarter.

Singapore?s economy grew 23.5% at a quarter-on-quarter annualized rate in the first quarter of 2011, according to the country?s Ministry of Trade and Industry. In the fourth quarter of 2010, the economy grew by 8.8%.

Source: Singapore's Dollar Rises While Government Tightens Monetary Policy