Amid the US Federal Reserve (FED)’s continuous increases of interest rates to cope with inflation, the most important task for Vietnam now is to keep macro-economic stability, with monetary stability being the core, some economic experts have said.
The yield of Government bonds (G-bond) has continued to decline and hit seven-month lows as the US Federal Reserve (Fed) seems unlikely to hike interest rates and the domestic monetary market has shown positive movements.
Member states of the Association of Southeast Asian Nations (ASEAN) should prioritise progress on regional initiatives to cope with major economic headwinds in the context of increasing US-China trade tensions, according to eastasiaforum.org.
The Vietnamese monetary market will not suffer from any significant impact from the US Federal Reserve (FED)’s fourth interest rate hike in 2018 as the move was already expected, experts have said.
The US Federal Reserve (Fed)’s third interest rate hike this week would not affect Vietnam’s economy significantly as the move was foreseeable, according to experts.
The State Bank of Vietnam’s transaction centre this week raised the reference buying rate for the US dollar by 50 VND to 22,725 VND, revealing its intention to expand foreign reserves.
The VND/USD exchange rates saw little changes this morning although the US Federal Reserve (Fed) raised interest rates on June 14 on the confidence in a growing economy and strengthening job market in the world’s biggest economy.
The gold market resumed stability shortly after a quick increase on March 16 after the US Federal Reserve (Fed) raised its interest rates, which experts described as going against common rule.
The US FED’s decision to raise interest rates by 0.25 percentage points on early December 17 has not prompted the central bank to change its policy on stabilising foreign exchange rates
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