The State Bank of Vietnam (SBV) announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.
The State Bank of Vietnam could increase credit growth limits for credit institutions this year or even launch stronger monetary policies to aid the country’s post-pandemic growth, Governor Le Minh Hung has said.
International press late last week mentioned the possibility of the US adding Vietnam to the list of the countries it needs to monitor for currency manipulation.
The country net purchased over 6 billion USD in 2018 to raise its foreign exchange reserves, the State Bank of Vietnam (SBV) reported at a meeting in Hanoi on January 9 to launch tasks for the banking sector this year.
The year of 2017 is considered a successful year in inflation control, as the average CPI increased 3.53% over 2016 and 2.6% compared to December 2016, fulfilling the target of keeping the rate under 4% for the whole year, said Director of the General Statistics Office (GSO) Nguyen Bich Lam.
Macroeconomic indexes have experienced positive changes over the last nine months, showing the effectiveness of Vietnam’s financial and monetary policies, according to the National Financial and Monetary Policy Consultation Council.
The State Bank of Vietnam (SBV) will work to maintain interest rate stability, enabling firms to access credit for their production and business, SBV Governor Le Minh Hung has said.
Fiscal and monetary policies have been on the right track since early this year, members of the National Advisory Council on Fiscal and Monetary Policies confirmed at their quarterly meeting recently held in Hanoi.
The State Bank of Vietnam (SBV) will control credit growth and direct capital to areas of priority from now to the year end towards safety and effectiveness, said Governor of SBV Le Minh Hung.
Savills Vietnam, the largest property company in the country, forecasts that the real estate market will be on the upswing in 2016, thanks to improved economic conditions, monetary policies and international trade agreements.
Finance Minister Dinh Tien Dung has spoken highly of the International Monetary Fund (IMF)’s support for Vietnam in assessing the country’s macro-economy.
Vietnam’s monetary policies resemble China’s in many respects. Two prime examples are the control of capital flows and market interest rates, including the application of ceiling deposit interest rates.
The State Bank of Vietnam (SBV) has called on lenders to carry out proper monetary policies and assure secure and efficient operations this year.
(VOV) - National Financial Supervisory Committee Deputy Head Dr Le Xuan Nghia has said the majority of bad debts are currently owed by select commercial banks because of inadequate emergency reserves.
The national economy is expected to achieve higher growth and inflation is likely to drop further in the second half of 2012, according to ANZ Bank’s latest report released on August 2.
Interest rates for short-term deposits had remained high for a long time before being adjusted lower than those for medium- and long-term ones.
Tightening monetary policies have helped contain demand for credit and inflation, but limited credit is likely to slow down economic growth in 2012.