Credits to Unsplash: Aleksandr Popov In this Explainer, find out... What is monetary policy? How does Singapore’s exchange rate-centred monetary policy operate? What are the strengths and trade-offs of an exchange rate-centred monetary policy? Introduction Interest rate cuts and hikes by the United States (US) Federal Reserve often capture keen attention from an international audience. This is not surprising: interest rates have an impact on a range of economic outcomes, including the price...