The Monetary Authority of Singapore will hold a meeting, and the June CPI data will attract much attention

According to Jinshi Data, the Monetary Authority of Singapore will hold a meeting on Friday, and the June CPI data to be released later today will attract much attention.

Economists at ING Bank said Singapore's CPI data for June is expected to show that the overall inflation rate fell from 3.1% to 2.7%, but the core inflation rate only fell slightly from 3.1% to 3.0%, which is unchanged from the previous month.

This is not enough to warrant any near-term response from the Monetary Authority of Singapore, they wrote in a note. ING added that the country’s core inflation rate has been hovering around the same level since September last year.

The MAS does not have an inflation target but has concluded that, on average, core inflation of just below 2% is consistent with overall price stability.