Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong speaks at the forum. Hong made the statement during the Vietnam Banking Overview Forum 2019 in Hanoi on May 8. The event aimed to review the monetary policy that has been implemented in recent times as well as the performance of the entire banking system. She asserted that the 2019 monetary policy aims to stabilize local money and foreign exchange markets, retain macro-economic stability, and spur economic growth. In addition to these benefits, the monetary policy is expected to help increase total payment means and credit by around 13 per cent and 14 per cent, respectively this year. Vo Tri Thanh, former Vice Director of the Central Institute for Economic Management, emphasized macro-economic, interest rate, and exchange rate stability as highlights of the banking sector last year. The central bank has regulated monetary policy in a sensible manner in recent years, enjoying particular success in monitoring liquidity and inter-bank interest rates in order to stabilize exchange rates amid increasing fluctuations. Thanh raised concerns regarding the challenges ahead, especially unfavorable developments facing the banking sector in the short term and an upward trend of interest rates due to moves by… Read full this story
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