Singapore policy interest rate
Central bank policy interest rate. Singapore: structural null — MAS conducts monetary policy via the S$NEER exchange-rate band, not an interest rate.
| Current value | structured — see the API |
|---|---|
| In force from | 2026-04-14 |
| Official source | MAS Monetary Policy Statement, 14 April 2026 (S$NEER policy band decision; quarterly statement series, Monetary Authority of Singapore) |
| Last verified | 2026-07-20 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
STRUCTURAL NULL: Singapore has no policy interest rate. MAS conducts monetary policy via the trade-weighted Singapore dollar nominal effective exchange rate (S$NEER), managed within an undisclosed policy band whose slope (rate of appreciation), width and centre are the policy levers, set at quarterly reviews (statements released Jan/Apr/Jul/Oct). Current stance per the MPS of 14 Apr 2026 (loaded): the rate of appreciation of the band was 'increased slightly', width and centre unchanged — a tightening response to the Strait-of-Hormuz energy-supply shock, with MAS raising both its 2026 core and headline inflation forecast ranges to 1.5-2.5% (from 1.0-2.0%). The Jan 2026 review had kept all band parameters unchanged. Domestic interest rates such as SORA (the MAS-administered volume-weighted overnight unsecured interbank rate) are market outcomes of exchange-rate policy plus global rates, NOT policy instruments — never serve SORA (or SGS/MAS-bill yields) as a policy rate. Next scheduled review is late Jul 2026 (the Jul 2025 statement was released 30 Jul 2025); re-verify after release. Access quirk: mas.gov.sg returns 'Sorry, this service is currently unavailable' to non-browser HTTP fetchers; loads normally in a real browser. Monetary Policy Statements listing: https://www.mas.gov.sg/news?content_type=Monetary%20Policy%20Statements.
Get it programmatically
curl https://asiaref.dev/v1/sg/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://asiaref.dev/v1/sg/policy-rate/history?from=2020-01-01
# Provenance: curl https://asiaref.dev/provenance/sg/policy-rateOther Singapore series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates