Commerzbank analysts highlight that the Monetary Authority of Singapore (MAS) unexpectedly tightened policy for a second straight meeting, slightly increasing the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) slope while leaving the band’s centre and width unchanged. The move signals greater concern over inflation risks despite benign data and softer energy prices. Surprise MAS move supports Singapore Dollar"In a surprise move, the Monetary Authority of Singapore (MAS) tightened monetary policy for the second consecutive meeting." "MAS could have easily left policy unchanged given that inflation remains relatively benign, and energy prices have retreated from their April peaks." "Its decision to act signals that MAS remains more concerned about the upside risks to inflation than the downside risks to growth.