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Singapore’s central bank has eased monetary policy for the first time in four years amid rising expectations of trade turmoil after Donald Trump’s return to the US presidency and moderating domestic inflation.
由於唐納•川普(Donald Trump)重返白宮後對貿易動盪的預期升溫，加上國內通膨趨緩，新加坡央行四年來首次放鬆貨幣政策。
The Monetary Authority of Singapore on Friday said it would reduce the slope of the Singapore dollar’s appreciation against a basket of its trading partners’ currencies, citing anticipations of trade friction.
新加坡金融管理局週五表示，將下調新元對一籃子貿易伙伴貨幣的升值坡度，原因是預計將出現貿易摩擦。
“Global economic policy uncertainty has risen since the October monetary policy review, mainly reflecting expectations of increasing trade policy frictions,” said the central bank.
該央行表示：自10月的貨幣政策評估以來，全球經濟政策的不確定性有所上升，主要反映了對貿易政策摩擦增加的預期。
The MAS has a long-term policy of allowing the Singapore dollar to gradually appreciate against other currencies. By reducing the slope of its appreciation, the monetary authority in effect lowers borrowing rates in the city-state’s heavily trade-dependent economy.
新加坡金管局的長期政策是允許新元對其他貨幣逐步升值。透過下調升值坡度，該機構實際上下調了這個嚴重依賴貿易的城市國家經濟的借貸利率。
Inflation data released on Thursday showed the city’s core consumer price index rose 1.8 per cent in December from a year earlier, the second consecutive month of growth below 2 per cent.
週四公佈的通膨數據顯示，12月核心消費價格指數同比上漲1.8%，連續第二個月增幅低於2%。
Although the central bank does not have a hard inflation target, it has said a rate under 2 per cent “is consistent with overall price stability”.
儘管央行沒有硬性的通膨目標，但它表示，低於2%的通膨率「與整體物價穩定相符」。
Singapore’s small and open economy is highly exposed to global trade and financial flows, allowing the MAS to control lending rates through the exchange rate.
新加坡經濟規模小、開放程度高，極易受到全球貿易和資金流動的影響，讓新加坡金管局可以透過匯率來控制貸款利率。
According to the central bank, 40 cents of every dollar spent in Singapore is on imports, while gross imports and exports of goods and services account for more than 300 per cent of GDP.
根據新加坡央行的數據，在新加坡每花費一美元就有40美分用於進口，而商品和服務進出口總額佔到國內生產總值(GDP)的300%以上。
The Singapore dollar edged down in early trading on Friday to S$1.3561 a US dollar.
新元在週五早盤交易中微跌至1美元兌1.3561新元。