0754 GMT - The Monetary Authority of Singapore is among the most mentioned entities in the news over the past eight hours, according to Factiva data, after the central bank paused its policy tightening in a surprise move. The MAS left the slope, midpoint and width of its Singapore dollar policy band unchanged, joining central banks in Australia, South Korea, Indonesia and India that have recently put their tightening cycles on hold. The MAS said the effects of its previous tightening "are still working through the economy and should dampen inflation further." The MAS uses the exchange rate rather than interest rates to stabilize prices. The announcement came as advance estimates showed that Singapore's economy grew more slowly than expected in 1Q. Dow Jones & Co. owns Factiva. (farah.elias@wsj.com)
(END) Dow Jones Newswires
04-14-23 0410ET
