SINGAPORE, Oct 13 Reuters Singapore39;s central bank on Friday kept monetary settings unchanged as inflation in the citystate moderated and economic growth beat expectations.

In a move that surprised economists, the Monetary Authority of Singapore MAS said it would shift to a quarterly schedule of policy statements in 2024 from semiannual.

The MAS maintained the prevailing rate of appreciation of its currency policy band known as the Singapore dollar nominal effective exchange rate, or SNEER. There was no change to the width and the level at which the policy band is centred.

Against the external outlook, prospects for the Singapore economy are muted in the near term but should improve gradually in H2 2024, MAS said in a statement.

As part of the increased frequency of its policy statements, monetary policy will be reviewed in January, April, July and October instead of just April and October.

Maybank economist Chua Hak Bin said the more frequent reviews were a positive and welcomed move for markets and analysts as they improve the communication and transparency of policy.

It may be a reaction to the more volatile currency swings and frequent changes in other central banks policy rates, said Chua.

OCBC economist Selena Ling said the increased frequency was a reflection of how the global economic and geopolitical landscape is evolving.

The semiannual frequency had been debated in the past, especially during crises, on whether it allows sufficient flexibility to…