🅠 IMF calls for Thai rate cut to support inflation, ease debt load
Prime Minister Paetongtarn Shinawatra appealed for a rate cut after last year’s 2.5% growth came below economists’ estimates.
Keyword: "interest rate"
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🃏 Banks stimulate credit from the beginning of 2025
Commercial banks have stimulated credit demand right from the start of the year to support economic growth.
🤡 Vietnamese dong forecast to depreciate by 3% against US dollar in 2025
A strong US dollar will still be a major factor influencing the USD/VND exchange rate in 2025, causing the Vietnamese dong to depreciate by about three% against the dollar, experts forecast.
💯 Exchange rate fluctuations bring huge profits to many banks
Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.
ཧ SBV curbs foreign currency hoarding, dollarisation
The State Bank of Vietnam (SBV) has applied a 0% interest rate on foreign currency deposits to address foreign exchange and exchange rate volatility, Governor Nguyen Thi Hong explained during a question-and-answer event at the 15th National Assembly’s 8th session.
Thailand tightens domestic currency management
As Thailand is an export-led economy, effective currency management strategies are essential to bolster its export activities, Minister of Finance Pichai Chunhavajira has said.
🐽 PM works with joint stock commercial banks on solutions to boost socio-economic growth
Prime Minister Pham Minh Chinh on September 21 chaired a meeting between Cabinet members and leaders of 13 joint stock commercial banks to seek measures to promote national socio-economic development.
🎃 Banks to issue billions of dollars in Tier-2 bonds in next three years
Banks will need to issue new Tier-2 capital bonds to replace maturing bonds and bolster their capital adequacy ratios, said experts.
💯 Measures sought to speed up disbursement of low interest rate aid package
Just 3.05% of the 40-trillion-VND aid package with an interest rate discount of 2%, approved by National Assembly in January 2022, has been disbursed so far.
🎐 Foreign exchange rates to cool down at year end: UOB experts
The Vietnam dong is expected to fall to 25,600 VND per US dollar in the second quarter of 2024, and then to 24,800 VND in the final quarter of the year and 24,600 VND in the first quarter of next year, according to experts from the United Overseas Bank (UOB).
𒁏 Experts optimistic about Vietnam’s economic outlook in 2024: British journal
The UK’s magazine The Banker has run an article highlighting optimistic opinions of experts on Vietnam’s economic outlook in 2024.
💟 Thai deposits decrease for first time in a decade
The value of deposits under the Deposit Protection Agency (DPA) of Thailand fell by 1.32% year-on-year, the first decline in a decade, attributed to a fragile economy and war in the Middle East.
🧸 Social policy bank brings hope, aspiration to poor people
Over the past 21 years, loan support from the Vietnam Bank for Social Policies (VBSP) has met the needs for capital of the poor and social policy beneficiaries across the country, contributing to the socio-economic development of localities.
🔯 Gov't proposes to continue 2% interest rate support policy
The Government has put forward a proposal to continue with the 2% interest rate support policy for enterprises, cooperatives, and business households, at a recent meeting of the National Assembly Standing Committee.
Foreign media upbeat about Vietnam’s economy
Many foreign press agencies have run articles featuring Vietnam’s economic growth, pointing to rosy signs in its recovery.
💎 Thai central bank raises interest rate to 9-year high
The Bank of Thailand (BoT) raised its key interest rate to a nine-year high on August 2, amid concerns about possible inflation and political instability.
🍬 Banks asked to consider solving financial difficulties of fishery businesses
Deputy Prime Minister Le Minh Khai has requested the State Bank of Vietnam (SBV) and relevant ministries and organisations to consider solutions to solve financial difficulties of enterprises in the fishery sector.
𒊎 Low credit growth makes large banks curb capital mobilisation
Low credit growth has made large banks curb capital mobilisation and implement solutions for attracting borrowers.
💃 Almost all banks cut 6-month deposit interest rate to below 8%/year
Almost all banks in Vietnam have cut interest rates for deposits for terms from six months and above to below 8% per year.
Banks asked to bring interest rates down
Measures must be taken to bring down bank interest rates, said the State Bank of Vietnam (SBV) at a meeting with CEOs from 26 commercial banks in the country on May 25.