ANZ's Khoon Goh reports that the Monetary Authority of Singapore is expected to become the first central bank in the region to tighten policy in 2026. He expects the move to take place as early as July. He said, “Although the growth outlook for 2026 is uncertain, the risk balance is slightly skewed upward. “He also anticipates that the Singapore Monetary Authority's core inflation has bottomed out and will rise in 2026. Goh pointed out that the Singapore Monetary Authority has also taken the lead in tightening policies in the region during other periods — such as after the 2010 global financial crisis or the 2021 post-pandemic recovery period — these measures are thought to be a preemptive response to inflationary pressure. “By making early changes, the Singapore Monetary Authority can avoid falling behind the situation and being forced to take more action later,” he said.

ANZ's Khoon Goh reports that the Monetary Authority of Singapore is expected to become the first central bank in the region to tighten policy in 2026. He expects the move to take place as early as July. He said, “Although the growth outlook for 2026 is uncertain, the risk balance is slightly skewed upward. “He also anticipates that the Singapore Monetary Authority's core inflation has bottomed out and will rise in 2026. Goh pointed out that the Singapore Monetary Authority has also taken the lead in tightening policies in the region during other periods — such as after the 2010 global financial crisis or the 2021 post-pandemic recovery period — these measures are thought to be a preemptive response to inflationary pressure. “By making early changes, the Singapore Monetary Authority can avoid falling behind the situation and being forced to take more action later,” he said.