The Hanoitimes – The need to ease policy rates in the near-term is unlikely, given the country’s still-robust growth and heightened foreign direct investment. Vietnam’s interbank interest rates drop after skyrocketing for last 6 months Vietnam c.bank may hike interest rates to support VND in 2019 Vietnam c.bank targets credit growth at 14% in 2019 Rising interest rates cause headache for enterprises in Vietnam As global demand continues to fade, the State Bank of Vietnam (SBV), the country’s central bank, is expected to provide some form of stimulus to growth, with a 25-basis-point cut to the policy rate on the cards in the second half of 2020, according to HSBC in its latest report. This would bring the refinance rate down to 6% by end-2020, which is a collateralized lending rate through which the SBV provides short-term loans for credit institutions, stated the report. Notably, the SBV was the only regional central bank not to tighten policy last year, however, Vietnam is expected to eventually follow most countries’ easing cycle once global trade data wanes as a result of weaker global growth. Nevertheless, the need to ease policy rates in the near-term is unlikely, given the country’s still-robust growth and… Read full this story
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Vietnam expected to cut policy rate in second half of 2020: HSBC have 340 words, post on www.hanoitimes.vn at April 16, 2019. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.