Economists say Singapore is likely to tighten monetary policy next month and consider further steps this year amid rising prices due to the Middle East crisis. There have been increases in gasoline and diesel prices, taxi and airfare tariffs, as well as electricity prices. Bloomberg News reported that the Monetary Authority of Singapore said it would revise its inflation forecasts at its next meeting, warning of a possible rise in import cost pressures in the near term. The authority, unlike other central banks that use interest rates to manage monetary policy, will make its decision by no later than April 14.
