VOV.VN - The United States Federal Reserve’s recent decision to lower its benchmark interest rate by 0.5% is expected to ease pressure on the exchange rate between the US dollar and the Vietnamese Dong, and enable the State Bank of Vietnam (SBV) to flexibly adjust its monetary policy, according to analysts.

Prime Minister Pham Minh Chinh on August 5 requested the continued implementation of a proactive, flexible, timely, effective monetary policy which has proven its efficiency in the past time.

Prime Minister Pham Minh Chinh chaired a meeting in Hanoi on May 16 with ministries and agencies to discuss the coordination of fiscal and monetary policies aimed at maintaining macroeconomic stability, controlling inflation and promoting growth.

The State Bank of Vietnam (SBV) will manage the exchange rate flexibly, adjusting in line with general trends while still ensuring macro-economic stability and foreign currency balance, said its Permanent Deputy Governor Dao Minh Tu.

VOV.VN - Minister of Finance Ho Duc Phoc and Deputy Governor of the State Bank of Vietnam Pham Quang Dung shared Vietnam's monetary policy and monetary cooperation initiatives at a host of meetings with financial and monetary partners.

Experts gave forecasts on impacts of the global economy on Vietnam and exchanged views on how to manage the macro economy and the domestic gold market at a meeting of the National Financial and Monetary Policy Advisory Council on March 28.

Prime Minister Pham Minh Chinh on March 14 chaired a conference launching this year’s monetary policy-related tasks to tackle production and business obstacles, facilitate growth, and maintain macro-economic stability.

VOV.VN - Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to apply a flexible monetary policy, especially in credit and interest rate management, in order to support business operations and the national economy as a whole.

Credit growth will be the main focus for the banking industry in 2024, as it is closely related to economic growth, according to analysts.

As the room for the fiscal policy remains quite large, Vietnam in 2024 should continue to pursue the counter-cyclical fiscal policy, with a focus on increasing spending and maximising tax and fee exemption and reduction, to support economic growth, experts believe.