The Vietnamese dong was expected to remain broadly stable against the US dollar over the remainder of 2019 and to be slightly weaker on average over 2020, buoyed by robust foreign direct investment (FDI) inflows, dollar purchases by businesses, and a healthy foreign reserve position, experts forecast.
Singapore on October 14 decided to ease monetary policy for the first time in more than three years as the national economy has narrowly avoided recession in the third quarter of 2019.
The medium-term outlook for the Vietnamese economy is broadly positive despite persistent downside risks, the World Bank (WB) said in its East Asia and Pacific Economic Update released on October 10.
Thailand’s GDP growth forecast for 2020 has been set at 2.5-3 percent by Kasikorn Research Centre (K-Research) as compared to 2.8 percent growth seen this year.
The State Bank of Vietnam (SBV)'s exchange rate management policy has been appropriate and effective, creating benefits for the economy and confidence for the market.
Credit has been provided for production and business activities and the priority fields while loans for high-risk areas have been further tightened so far this year, the State Bank of Vietnam (SBV) reported.
Thailand’s economic growth in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the Bank of Thailand.
As Singapore continues to see sluggish trade and growth data, with core inflation at a three-year low, economists forecast the central bank to ease monetary policy in its upcoming review and provide some support to the economy.
Thailand’s Monetary Policy Committee (MPC) has reduced its economic growth forecast for the country from 3.3 percent to 2.8 percent in 2019 and from 3.7 percent to 3.3 percent in the next year.
Some members of the national financial and monetary policy advisory council have pointed out certain problems in the economy, warning that failure to address them would not only make faster growth unachievable but also decelerate economic expansion.
With a positive macroeconomic background at the moment, interest rates will basically stay steady until the end of the year due to excessive liquidity and proper credit growth, according to an official from the State Bank of Vietnam (SBV).
Prime Minister Nguyen Xuan Phuc has demanded ministries, sectors and localities to take stronger actions to speed up the disbursement of the public investment capital plan for 2019, as the disbursement so far is at a critically low level.
Business leaders and economic experts discussed how an open economy like Vietnam should deal with risks and impacts in the wake of international economic and technological upheavals at a business forum themed “Navigating the digital age” held by Forbes Vietnam in HCM City on August 15.
Thailand’s new Industry Minister Suriya Juangroongruangkit has urged the Bank of Thailand (BOT) to intervene more in foreign exchange markets to help private companies suffering from the strengthening baht.
Capital inflows to Indonesia stood at 192.5 trillion Rp (13.82 billion USD) as of July 18, indicating investors’ stronger confidence in the country’s economy, according to the Bank Indonesia (BI).
Singapore's economy expanded by its slowest rate in a decade in the second quarter of this year, raising fear of a recession and monetary policy easing in October, according to a Reuters article.
The State Bank of Vietnam (SBV) will hold its benchmark refinancing and discount rates at 6.25 percent and 4.25 percent, respectively, in addition to maintaining its 14 percent credit growth target for the remainder of 2019, experts forecast.
Economists have forecast that the Vietnamese economy could grow by 6.86 percent this year, higher than the 6.6 – 6.8 percent set by the National Assembly.
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