David Simmonds Quotations

The People's Bank of China will follow the decision with additional moves.

They (the MAS) have reset the mid-point of the band to today's level of the NEER and given we were in the weaker end of the band that means they are locking in some of the Singapore dollar's recent weakness.

Clearly their overriding priority is to maintain control of the dollar/China exchange rate.

It is technical adjustment to existing policy, not another policy change.