Singapore's central bank kept its monetary settings unchanged on Wednesday, dashing some expectations for a loosening of policy, after second quarter economic growth surprised to the upside and global trade tensions eased somewhat.

Singapore's central bank on Wednesday kept its monetary policy settings unchanged after economic growth surprised to the upside in the second quarter. The Monetary Authority of Singapore said it will maintain the prevailing rate of appreciation of its exchange rate-based policy band known as the Nominal Effective Exchange Rate,