- Goldman Sachs strategists stated after the release of Singapore's November economic data that overall and core inflation rates in Singapore may remain 'good' in the future. Although Transportation inflation contributed 8 basis points to overall inflation, last month's data was below Goldman Sachs' expectations. Controlled inflation rates, coupled with increased global trade uncertainty leading to economic growth slowdown, will create space for the Monetary Authority of Singapore to slightly lower the slope of the nominal effective exchange rate for the Singapore dollar to 1.0% at the April meeting. Goldman Sachs estimates that the slope of the nominal effective exchange rate policy Range for the Singapore dollar is currently 1.5%. The Monetary Authority of Singapore uses the exchange rate as a policy tool rather than interest rates.