The State Bank of Vietnam (SBV) has to continually inject money to support the liquidity of the banking system as the capital demand and interest rates on the interbank market have remained high though the Tet (Lunar New Year) holiday has ended.
The State Bank of Vietnam (SBV) will adjust its benchmark interest rates from May 13 in an attempt to support an economy hurt by the COVID-19 outbreak.
Though Tet (Lunar New Year) is approaching with rising capital demands, the liquidity of the banking system is abundant, helping interest rates in the inter-bank market drop sharply, industry insiders said.
The State Bank of Vietnam (SBV) will continue to follow a pro-active, flexible and cautious monetary policy as well as working in close conjunction with fiscal and other policies to control inflation, sustain the macro-economy and support economic growth in the second half of this year.
The State Bank of Vietnam withdrew a large amount of money worth 177 trillion VND (7.79 billion USD) via the open market operation and the issue of Treasury bills in the past week.
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