Report of the State Bank of Vietnam (SBV) for operating monetary policy and banking 6 months and solutions in the last 6 months in 2013, said the executive, and interest rates remaining months of 2013, the central bank will run interest rates in line with macroeconomic variables, conditions of the money market, especially inflation developments.
The credit institutions enhance cost savings, capital raising with reasonable interest rates to further reduce interest rates, including the old loan. Continued implementation of free, reduced loan rates consistent with the financial condition of the credit institutions.
Close monitoring of rate changes, currency markets, foreign exchange and regularly review data forecasting international balance of payments basis to assess supply and demand of foreign currency in which the operating rate accordingly. Close coordination between operating and interest rates to encourage held between VND, limiting the shift to USD.
On credit growth target to strive rate of 12%, the system implemented drastic measures to remove difficulties for production, marketing assistance, resolve bad debt under the policy of the Government in Resolution No. 02/NQ-CP. SBV implemented solutions credit, interest has developed, in close collaboration with the ministries concerned and local authorities assess the business.
In the first 5 months of the year, the central bank has revised down 2% / year interest rates and operating short-term interest rates exceed USD for priority areas and reduce the interest rate of 0.5% at most equal in terms of USD 1 to less than 12 months. Besides, the central bank has operated flexible credit solutions by expanding credit coupled with the safe operation of credit institutions, in accordance with the operating target of monetary policy, while continuing implement solutions to remove difficulties for production activities, to support business growth at a reasonable level.
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