Singapore’s central bank, the Monetary Authority of Singapore (MAS), tightens monetary policy for a second time in three months, citing renewed inflation risks linked to volatile global energy markets. MAS manages medium-term price stability by adjusting the Singapore dollar’s exchange rate rather than setting a traditional interest-rate target. In its latest decision, MAS increases the rate of appreciation of the local dollar against a trade-weighted basket of currencies. Both outlets attribute the policy move to the persistence of elevated oil prices, which remain high amid heightened geopolitical tensions in the Middle East following attacks involving the United States, Israel, and Iran that began in late February. The resulting uncertainty in energy markets is described as continuing to affect inflation expectations, prompting MAS to tighten policy to mitigate domestic price pressures. The decision is framed as a continuation of actions taken earlier this year, with the latest change occurring Monday, roughly three months after the prior tightening.