The State Bank of Vietnam announced on Tuesday its intention to maintain a flexible monetary policy for the remainder of 2025, prioritizing economic growth amid ongoing global economic uncertainty affecting the country.
Pham Than Ha, Deputy Governor of the Vietnamese central bank, stated that risks in global financial and monetary markets are exerting pressure on monetary policy management, exchange rates, interest rates, and the achievement of the nation’s economic growth target of at least 8 percent this year.
The central bank emphasized its continued efforts to encourage commercial banks to reduce operational costs and accelerate digital transformation to facilitate lower lending interest rates. It also plans to direct banks to increase lending in a “secure and effective” manner, focusing on financing productive and commercial projects.
According to official figures, total outstanding loans in the banking sector rose by 9.9 percent by the end of June compared to the end of the previous year.
— News Original —
Vietnam’s Central Bank Maintains Flexible Monetary Policy to Support Growth
The State Bank of Vietnam announced on Tuesday that it will continue to adopt flexible monetary policies for the remainder of the year, prioritizing growth support amid ongoing global economic uncertainty and its impact on Vietnam.
Pham Than Ha, Deputy Governor of the State Bank of Vietnam, said: “Risks in global financial and monetary markets impose pressures on monetary policy management, exchange rate, interest rates, and achieving the economic growth target of at least 8 percent this year.”
The central bank confirmed it will continue urging banks to reduce costs and accelerate digital transformation to pave the way for lower lending interest rates.
It will also direct banks to enhance lending in a ‘secure and effective’ manner, focusing on financing productive and commercial projects.
It added that total outstanding loans in the banking sector increased by 9.9 percent by the end of June compared to the end of the previous year.
(Ruters)