In keeping with the move towards greater transparency and clarity in monetary policy, MAS has continued to enhance our communications with the media, the market and the public. Recent issues of the Macroeconomic Review, through which the MAS communicates our basis for the monetary policy stance, highlighted various studies by MAS staff which have policy implications. These included assessments on the impact of a GST rate increase on CPI inflation, adjustments in the labour market over the business cycle, as well as a number of other technical studies. Since April 2006, MAS has also released ex post weekly data on the Singapore dollar nominal effective rate (S$NEER) index on the MAS website, and in the Statistical Appendix of the Macroeconomic Review. The S$NEER series starts in January 1999, and is updated every six months in conjunction with the release of the Macroeconomic Review.