Many businesses are disappointed with the move of private joint stock commercial banks, which cite a fear of a sharp drop in profits.

Many commercial banks continue to slash lending interest rates following an interest rate cut in July. The current lowest interest rate is 4 percent per annum.

Business associations and industries have repeatedly asked commercial banks to ease lending interest rates to share difficulties with them in the Covid-19 pandemic.

Commercial banks have reported a sharp fall in deposits as interest rates are now at a 10-year low and people seek other investment channels.

Commercial banks have agreed to slash the lending interest rate in order to help businesses and people overcome the difficulties caused by the Covid-19 crisis.

After many months of staying at low levels, deposit interest rates at banks have increased since late May.

Recently, the interbank interest rates suddenly jumped, causing many people to worry whether bank lending rates will increase in the coming time while the business and production activities have been facing many difficulties due to Covid-19.

The latest Covid-19 outbreak has pushed enterprises into new difficulties at a time when it is nearly impossible to access cheap capital sources.

Interest rates are the most important focus of attention this year as many believe after a year implementing the loose monetary policy, the authorities concerned are going to tighten them.

As of March, the total value of G-bonds reached more than VND1,340 trillion ($58.3 billion), slightly down 0.7% against late 2020.