While squabbling governments pull each others’ pigtails, Singapore is quietly engaging in some grown-up policymaking. By widening the trading band of the Singapore dollar against the US dollar, and modestly steepening its appreciation curve, the Monetary Authority is inviting a stronger local currency. At a time when developing nations are mostly resisting appreciation, and many developed economies are pursuing competitive devaluation through monetary debasement, this is bold. After bouncing through the echo chamber of the forex markets, it helped push the dollar to a new trade-weighted low for the year. But it is the right thing to do.
当争执不休的各国政府揪住彼此的小辫子不放时，新加坡悄悄做出了成年人的决策。新加坡金融管理局(Monetary Authority of Singapore)扩大了新加坡元兑美元交易区间，使其升值曲线变得略为陡峭，这是在引诱本币走强。当发展manbetx3.0 家大多抵制本币升值，而许多发达manbetx20客户端下载 体纷纷采取竞争性货币贬值政策时，新加坡此举可谓大胆。该决定在外汇市场中引发广泛冲击波，最终使美元贸易加权汇率降至全年新低。但这么做是对的。