Interest rates to fall to 7 pc: State Bank Governor
Mobilisation interest rates may fall to 7 per cent in mid-2013, said governor of the State Bank of Vietnam (SBV), Nguyen Van Binh, at a meeting with businesses in Ho Chi Minh City on July 28.
In response to businesses’ requests to reduce loan interest rates to 10 per cent per year, Binh said the current interest rates of 15 per cent remain high.
If inflation is kept at 7 per cent, mobilisation rates for Vietnamese dong will fall to 8 per cent by the end of 2012 and 7 per cent in mid-2013, he said, adding that this will help cut loan interest rates to 10 per cent.
In the current context of low inflation (2.22 per cent) over the past seven months, many international organisations have predicted that Vietnam will continue cutting interest rates until the end of 2012.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:
Related Contents
Latest News
More News
- Promoting the widespread adoption of blockchain and AI to one million people (April 25, 2024 | 13:55)
- Current VAT rate may remain for foreseeable future (April 24, 2024 | 11:02)
- VAT overhaul to boost agriculture prospects (April 24, 2024 | 10:53)
- Vietnam should explore tax on gold investments amid auction strategy: expert (April 23, 2024 | 14:47)
- Techcombank targets strategic investor and announces dividend (April 23, 2024 | 14:45)
- HoSE to launch KRX trading system on May 2 (April 23, 2024 | 12:16)
- Refinements necessary for stock market (April 23, 2024 | 11:00)
- Solutions for enhancing provision of the stock market (April 23, 2024 | 10:38)
- MB aiming for 30 million customers by end of year (April 22, 2024 | 17:43)
- MB finalises strategy for acquisition of distressed bank (April 22, 2024 | 16:33)
Mobile Version