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Update news monetary policy
The State Bank of Vietnam (SBV) has succeeded with its macroeconomic management policies, international financial experts have said.
In her first testimony to the Congress, U.S. Federal Reserve Chair Janet Yellen reiterated central bank's plan to taper its stimulus exit despite recent weakness in the economy.
U.S. Federal Reserve Chairman Ben Bernanke said on Monday that improved communication helps the public understand the Fed's policy intention and rationale, which is key to the legitimacy of the central bank.
The current factors of the national economy allow to stabilize the dong/dollar exchange rate. However, economists believe that it would be better to depreciate the local currency slightly so as to encourage exports.
U.S. stocks soared on Thursday, lifting the Dow Jones Industrial Average and the S&P 500 to their all-time closing highs, boosted by Federal Reserve Chaiman Ben Bernanke's recent dovish speech which eased fears of an early stimulus pullback.
The International Monetary Fund (IMF) cut its 2013 growth forecast for the world economy Tuesday to 3.1 percent, due to a slowdown in several key emerging market economies.
VietNamNet Bridge – The Vietnamese monetary policy always aims at many different targets, which, in some cases, are contradictory. As a result, the policy cannot bring the desired effects.
Thai investors have been flocking to Vietnam, the first step in its plant to conquer the ASEAN market.
VietNamNet Bridge – Small merchants have been sitting idle, while manufacturers have to scale down the production, saying that they have never seen such a low purchasing power before.
Despite the low CPI increases over the last several consecutive months, the government of Vietnam does not intend to hurriedly loosen the monetary policy for the fear about the high inflation.
The State Bank of Vietnam (SBV) has been warned against the hastiness in regulating the money policy. Vietnam would have to pay a heavy price for the decision to slash interest rates at unreasonable moments.
The State Bank of Vietnam has slashed the ceiling deposit interest rates several times in an effort to reduce the loan interest rates and increase the amount of capital to be pumped into the national economy.
Vietnam’s exports to Japan have been supported not only by bilateral and multilateral trade agreements, but also by the new economic stimulus package launched by the Japanese government worth $1.4 trillion.
VietNamNet Bridge – The record big gap between the domestic and international gold prices has prompted speculators to import gold to sell domestically for profit.
The International Monetary Fund (IMF) on Thursday warned central banks to be alert to the potential financial risks of super-loose monetary policy adopted to cope with the financial crisis.
VietNamNet Bridge – The Vietnamese banking system experienced a stormy year 2012. However, no collapse or disaster occurred.
VietNamNet Bridge – The credit packages with preferential interest rates offered by commercial banks are all the short term ones, while banks do not intend to push up long term lending.