Abstract
The COVID-19 pandemic substantially impacted the worldwide economy, and Singapore was not immune to its effects. In response to the outbreak, to sustain the economy and ensure price stability, the Monetary Authority of Singapore (MAS) implemented various monetary policy measures. This paper analyzes a series of timely and effective measures taken by the Monetary Authority of Singapore, including specific actions and their impacts, by combining qualitative and quantitative methods with specific economic activity data over the years. This paper demonstrates the effectiveness of most policies adopted by the Monetary Authority of Singapore, including an evaluation of their impact and potential future implications, as well as their contribution to monetary policy and its response to crises.
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