The Vietnam U20 side players arrived in Japan on August 14 after a night flight for a training camp ahead of their Group F qualifying clashes of the 2023 AFC U20 Asian Cup. Players of the Vietnam U20 side have arrived in Japan for training ahead of the 2023 AFC U20 Asian Cup qualifiers. Coach Dinh The Nam is expected to give his students physical and technical exercises during their two-week training there. The Vietnam U20 side are scheduled to play three friendlies against the Japan U19 side on August 17, the Cezero Osaka U18 FC on August 22 and the Osaka Sangyo University FC on August 25. They will fly back to Vietnam on August 28 and coach Dinh The Nam will make a shortlist of players for the national line up to compete at the qualifying round of the 2023 AFC U20 Asian Cup. Vietnam play in Group F alongside Indonesia, Hong Kong (China) and Timor Leste. All group matches will take place in Indonesia from September 14-19. … [Read more...] about Vietnam train in Japan ahead of 2023 AFC U20 Asian Cup qualifiers
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Central bank reduces intervention on OMO
State Bank of Vietnam (SBV)’s headquarters in Ha Noi. The SBV withdrew more than VND1 trillion through the bill channel in the first week of August. — Photo SBV The open market operations (OMO) have been more stable this month after the State Bank of Vietnam (SBV) reduced its intervention in the market. According to Saigon Securities Incorporation (SSI)’s research division, the OMO had seen strong fluctuations last month when the SBV consecutively injected a large amount of Vietnamese dong totalling VND46 trillion through bill issues. In August, the SBV changed its policy, starting to withdraw cash out of the market through the OMO. It withdrew more than VND1 trillion through the bill channel in the first week of August. However, SSI analysts noted, the SBV has still applied the interest rate bidding method in the OMO, with a floor rate of 3.5 per cent per year, with an aim to keep the interbank lending interest rates at high levels. Under the SBV’s move, the interbank … [Read more...] about Central bank reduces intervention on OMO
China unexpectedly cuts 2 key rates, withdraws cash from banking system
Economists and analysts said they believe Chinese authorities are keen to support the sluggish economy by allowing a widening policy divergence with other major economies that are raising interest rates aggressively. The People's Bank of China (PBOC) said it was lowering the rate on 400 billion yuan ($59.33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points (bps) to 2.75%, from 2.85%. In a poll of 32 market watchers last week, all respondents had forecast the MLF rate would be left unchanged and 29 had predicted there would be a partial rollover. "The rate cut surprises us," said Xing Zhaopeng, senior China strategist at ANZ. "It should be a response to the weak credit data on Friday. The government remains cautious about growth and will not let go." New bank lending in China tumbled more than expected in July while broad credit growth slowed, as fresh Covid flare-ups, worries about jobs and a deepening property … [Read more...] about China unexpectedly cuts 2 key rates, withdraws cash from banking system