Date Changes to Policy Settings
Slope of Policy Band Width of Policy Band Level at which Policy Band is Centred
14 Oct 2025 - - -
30 Jul 2025 - - -
14 Apr 2025 Reduce slightly
 - -
24 Jan 2025
 Reduce slightly
 - -
14 Oct 2024
 - - -
26 Jul 2024
 - - -
12 Apr 2024
 - - -
29 Jan 2024 - - -
13 Oct 2023
 - - -
14 Apr 2023 - - -
14 Oct 2022 -  -  Re-centre upwards, at prevailing level of the S$NEER
14 Jul 2022*
 - 
 -
 Re-centre upwards, at prevailing level of the S$NEER
14 Apr 2022 Increase slightly
 - Re-centre upwards, at prevailing level of the S$NEER
25 Jan 2022* Increase slightly - -
14 Oct 2021 Increase slightly
 - -
14 Apr 2021 - - -
14 Oct 2020 - - -
30 Mar 2020 Set at 0%
 - Re-centre downwards, at prevailing level of the S$NEER
14 Oct 2019
 Reduce slightly
 - - 
12 Apr 2019
  - - -
12 Oct 2018
 Increase slightly - -
13 Apr 2018
 Increase slightly - -
13 Oct 2017
  - - -
13 Apr 2017  - - -
14 Oct 2016
  - - -
14 Apr 2016
 Set at 0%
 - -
14 Oct 2015
 Reduce slightly
 - -
14 Apr 2015
 - - -
28 Jan 2015*
 Reduce
 - -
14 Oct 2014
 - - -
14 Apr 2014 - -  -
14 Oct 2013
 -   -  -
12 Apr 2013
  - -  -
12 Oct 2012 - - -
13 Apr 2012 Increase slightly Restore narrower band -
14 Oct 2011 Reduce - -
14 Apr 2011
 - - Re-centre upwards, to below prevailing level of the S$NEER 
14 Oct 2010 Increase slightly Widen slightly -
14 Apr 2010 Increase - Re-centre upwards, at prevailing level of the S$NEER
12 Oct 2009 - - -
14 Apr 2009 - - Re-centre downwards, at prevailing level of the S$NEER
10 Oct 2008 Set at 0%  - -
10 Apr 2008 - - Re-centre upwards, at prevailing level of the S$NEER 
10 Oct 2007 Increase slightly
 - -
10 Apr 2007 - - -
10 Oct 2006 - - -
11 Apr 2006 - - -
11 Oct 2005 - - -
12 Apr 2005 - - -
11 Oct 2004 - - -
12 Apr 2004 Increase - -
10 Oct 2003 - - -
10 Jul 2003 - - Re-centre downwards, at prevailing level of the S$NEER
2 Jan 2003 - - -
11 Jul 2002 - -  -
2 Jan 2002 - Restore narrower band
 Re-centre downwards, at prevailing level of the S$NEER
10 Oct 2001* - Widen  -
12 Jul 2001 Set at 0% - -
22 Feb 2001
 - - -