The economy records over 12.7 quadrillion VND (517.5 billion USD) in credit as of the end of September, up 6.92% from the end of 2022. (Photo: VNA) Given this, the central bank will continue the work in a way that guarantees macro-economic stability.Interest rates will be kept stable, and rate cuts could be considered whenconditions are in place to ensure inflation control, capital supply, andliquidity for credit institutions and the economy, he said.
It will also pushahead with perfecting legal documents, mechanisms, and policies on credit andstay ready to take measures to tackle difficulties and meet credit demand, Tunoted.
As of the end of September, the economy recorded over 12.7 quadrillion VND (517.5billion USD) in credit, up 6.92% from the end of 2022. The credit growth hasaccelerated in recent months, according to the SBV.
There remains much room for creditto grow further, it opined.
Credit growth is hoped to gain speed during the last three months as usual. (Photo: VNA) If credit expansion stands at 4.6% in Q4 as forecast, credit growth in theeconomy will reach just 11.52%, the SBV went on.
In its newly released macro report, the Vietcombank Securities Company (VBCS)said pressure on foreign exchange rates will remain at least until November. However,in favourable conditions, the Vietnamese currency, the dong, may depreciate at a reasonablepace of about 3% compared to the US dollar.
The forecast was based on the projectionthat in comparison with the monetary policies of global central banks after theSeptember updates, the US dollar will maintain its high value until at least November.
Deputy Governor Tu expressed his hope that credit growth will gain speed duringthe last three months as usual.
The SBV will take strongmeasures, together with localities’ moves to address obstacles, to helpbusinesses surmount difficulties, he added./.
VNA
