Glonghui, July 26 | Barclays Bank said in a report that the Singapore Monetary Authority has not sent a signal of a recent shift to austerity or easing, and we still believe that the Singapore Monetary Authority will keep its foreign exchange policy settings unchanged until 2025. The correlation between the Singapore Monetary Authority's reduction of the overall inflation forecast for 2024 and foreign exchange policy is limited. “We certainly wouldn't take this as a dovish signal,” economist Brian Tan and strategist Audreyong wrote. They said that the July statement confirmed that the Singapore Monetary Authority expects the core inflation rate to be around 2% in 2025, which is noteworthy, indicating that policymakers still see little need to relax or tighten the nominal effective exchange rate parameters for the Singapore dollar. Barclays believes that a 2% inflation level is the key, because given that the Singapore Monetary Authority has no official inflation target, this may be its comfort zone.