The Monetary Authority of Singapore is likely to tighten the city-state's monetary policy at a review next week, Reuters reported Thursday, citing analysts.
Eleven of 13 experts polled by Reuters expect the Singaporean central bank to tighten policy due to the inflation risks caused by the energy crisis, the report said.
While the U.S. and Iran have agreed to a two-week ceasefire, there is lingering uncertainty over energy costs and the supply chain, the report said.
The U.S. Energy Information Administration reportedly said it will take some time for the complete restoration of oil supply through the Strait of Hormuz, meaning prices are likely to remain elevated.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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