Define monetary policy, and discuss the operation of monetary policy in Singapore from mid-2014.

1) Excutive Summary (very important) 2) defination and brief history of monetary policy 3) roles and 3 tools of monetary policy 4) current monetary policy operations in Singapore 5) future direction of Singapore's monetary policy + the pros & cons 6) conclusion 7) references **compare Apr 2014 to Oct 2014 with Apr 2015 to Oct 2015 (comment on the changes) total words: 2000 to 2200