SBV Deputy Governor Nguyen Thi Hong at the event (Photo: VNA) Hanoi (VNA) – Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has affirmed that the SBV will direct monetary policy in a proactive, flexible, and cautious manner, and in harmony with fiscal and other macro-economic policies to curb inflation, maintain macro-economic stability, and fuel economic growth. Addressing the Vietnam Banking Overview Forum 2019 held in Hanoi on May 8, Hong said the SBV aims to increase total payment instruments and credit by around 13 percent and 14 percent respectively this year. She added that the central bank will also direct interest and exchange rates in a way that suits macro-economic balances, market development and the goals of monetary policy, while using policy tools and interference measures when necessary to stabilise the foreign exchange market. Former Vice Director of the Central Institute for Economic Management Vo Tri Thanh lauded macro-economic … [Read more...] about State Bank vows to flexibly direct monetary policy
Fiscal monetary policy
Bank Indonesia governor Perry Warjiyo gives a press conference after an annual meeting of the central bank in Jakarta on November 27 (Source: en.antaranews.com) Jakarta (VNA) - Bank Indonesia (BI) said on November 27 that it will continue to adopt its pre-emptive and ahead-of-the-curve monetary policy in a bid to maintain economic stability amid the high external pressure in 2019. "We will maintain the pre-emptive and ahead-of-the-curve monetary stance. The focus of the monetary policy will continue on stability especially to control inflation and exchange rate," ANTARA News quoted BI Governor Perry Warjiyo as saying at an annual meeting of the central bank. Perry said based on evaluation of the economy in 2018, the central bank would increase its policy mix. "Although the bank will continue to focus its monetary policy more on stability, its macro-prudential policy, payment system and sharia economy would be accommodated to shore up economic growth," he added. The pre-emptive … [Read more...] about Indonesia to maintain stable monetary policy in 2019
Governor of the State Bank of Vietnam Le Minh Hung (Source: VNA) Hanoi (VNA) – Governor of the State Bank of Vietnam (SBV) Le Minh Hung shed some light on issues regarding collaboration among ministries and agencies in monitoring monetary, fiscal, and macro policies during the ongoing sixth session of the 14th National Assembly in Hanoi on October 29. Hung said the Government’s macroeconomic management working group led by the Minister of Planning and Investment, and also including the Minister of Finance, the Minister of Industry and Trade, and the SBV Governor to hold periodic meetings to discuss policy planning and direction. On price management, the Steering Committee on Price Management, led by Deputy Prime Minister Vuong Dinh Hue, also holds regular meetings and works closely with concerned units to provide relevant information. Thanks to close cooperation with the Ministry of Finance, the SBV has kept monetary policy stable and inflation under control. … [Read more...] about SBV Governor talks monetary, fiscal, macro policy management
Deputy Prime Minister Vuong Dinh Hue at the meeting (Source: VNA) Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue, Chairman of the National Financial and Monetary Policy Advisory Council, chaired a meeting in Hanoi on September 28 to review monetary policy for the third quarter of 2018 and outline tasks for the coming time. Members of the council said Vietnam’s financial and monetary policy, and macro-economy remain stable this year amid geo-political and commercial instability in the world. The country’s gross domestic product (GDP) grew by 6.98 percent in the first nine months of this year, the highest since 2011 and surpassing the set target. Inflation was under control, below the target set by the National Assembly. Monetary policy has been directed actively and flexibly and combined with fiscal policy in order to develop the government bond and monetary markets, thus cutting lending costs for the State budget, they said. The … [Read more...] about Experts review monetary policy for third quarter
The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. — Photo thoibaonganhang.vn The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year. The problems include a weakening of the dong against the dollar and rising inflation, interest rates and public debt, and the Government will be walking a tightrope in terms of monetary policy. The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. Inflation in the first six months of the year was up to 3.29 per cent. GSO experts attributed the sharp increase in inflation in recent months to the rise in prices of several major products and services. Of 11 major categories of goods and services, nine saw prices increasing. Transportation … [Read more...] about Trillion đồng question: to tighten monetary policy or not?