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Monetary Authority of Singapore








Monetary Authority of Singapore (MAS)
is the central bank of Singapore. It formulates and executes Singapore's monetary policy, and issues Singapore currency. As banker and financial agent to the Government, MAS manages the country's official foreign reserves and issues government securities. As supervisor and regulator of Singapore's financial services sector, MAS has prudential oversight over the banking, securities, futures and insurance industries. It is also responsible for the development and promotion of Singapore as an international financial centre.

MAS' Mission
To promote sustained non-inflationary economic growth, and a sound and progressive financial centre.

MAS' Objectives

  • To conduct monetary policy and issue currency, and to manage the official foreign reserves and the issuance of government securities;
  • To supervise the banking, insurance, securities and futures industries, and develop strategies in partnership with the private sector to promote Singapore as an international financial centre; and
  • To build a cohesive and integrated organisation of excellence.

MAS Publications
To support its mission to set economic policy for Singapore, the Monetary Authority has an extensive research program employing experts and scholars to study Singapore and the region. They produce a range of publications, from daily market commentary to consumer advice to scholarly research. Asia-Studies carries the full-text of the following MAS publication series:

  • The Financial Stability Review (FSR) analyses the risks and vulnerabilities arising from developments in Singapore and the global economy and assesses their implications for the soundness and stability of the financial system. The FSR aims to contribute to a greater understanding and exchange of views among market participants, analysts and the public on issues affecting Singapore's financial system.
  • MAS Information Papers highlight key trends, developments or practices in the financial sector. The papers are not prescriptive in nature; the objective is to help disseminate information and enhance understanding of current issues.
  • The Macroeconomic Review is published twice a year in conjunction with the release of the MAS Monetary Policy Statement (MPS). The purpose of the Review is to provide information on the Economic Policy Department's background analysis and assessment of GDP growth and inflation developments in the Singapore economy, and in doing so, to share with market participants, analysts, and the wider public the basis for the policy decision articulated in the MPS.
  • MAS Staff Papers analyse issues of current interest. The opinions expressed in the paper are those of the author(s) and not of the MAS.
  • The MAS Survey of Professional Forecasters provides a summary of forecasts of Singapore's key economic indicators by economists and analysts. The survey is conducted quarterly following the release of economic data for the previous quarter by the Ministry of Trade and Industry.
  • Monographs
  • Other Research Papers

For further information, please visit Monetary Authority of Singapore.