The Monetary Authority of Singapore will hold a meeting on Friday, and the CPI data for June, which will be announced later tonight, is highly anticipated. Economists at ING Bank predict that Singapore's CPI data for June is expected to show a decline in overall inflation rate from 3.1% to 2.7%, but the core inflation rate only slightly decreased from 3.1% to 3.0%, staying flat compared to the previous month. They wrote in a report: "This is still not enough for the Monetary Authority of Singapore to make any immediate response." ING Group also added that the country's core inflation rate has been hovering around the same level since September last year. The Monetary Authority of Singapore has not set an inflation target, but it is concluded that on average, a core inflation rate slightly below 2% is consistent with overall price stability.