Vietnam’s monetary market will continue to be stable this year with interest rates under control, and the central bank will maintain its policy to keep inflation below the growth rate, the bank governor said.
Governor Le Duc Thuy also forecast at a press conference in Hanoi Wednesday that the range of US$/Dong exchange rate would fluctuate within 1%.
The international monetary market would leave lesser impacts on local market this year than it did in the last two consecutive years, he added.
The State Bank of Vietnam (SBV), forecast that credits would post a growth rate of between 20-21% this year and the Vietnamese dong would not be devalued further thanks to a dynamic economy and increasing supply of hard currencies.
Based on the forecast, Thuy said SBV would continue to pursue a “careful but flexible” monetary policy in order to keep inflation below the growth rate, a target set by the legislative National Assembly.
Vietnam, a new member of the World Trade Organization, has allowed foreign banks to establish subsidiary banks in the country, a move that will make the financial-banking market more active.
Governor Thuy said the SBV had already received 10 applications for opening branches, representative offices and wholly-foreign owned banks from giant financial-banking groups around the world.
Source: Thanh Nien
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment