32.3 C
Ho Chi Minh City
Saturday, May 18, 2024

spot_img

AUTHOR NAME

Dat Thanh

Dat Thanh

1365 POSTS
0 COMMENTS

Will interest rates stay steady?

Market watchers have argued that interest rates will continue rising and that the State Bank of Vietnam (SBV) may revise up policy rates to curb the depreciation of the local currency. However, there are still many factors that could help contain the uptrend of interest rates. Interest rates under pressure In the latter half of April 2024, seven more banks raised deposit rates by 0.1 to 0.3 percentage point depending on terms. Thus, after a few banks sporadically hiked interest rates in the latter half of March and the first half of April, the rise in deposit rates has become clearer with more and more banks deciding to join the race. There are many reasons behind the reversal of the deposit rate spike. Firstly, after a sluggish start to the year, credit growth has improved since the beginning of the second quarter, prompting banks to boost capital mobilization. In fact, credit has begun to show signs of acceleration since late March. Specifically, according to the General Statistics Office, credit as of March 25 had increased by 0.26% compared to the beginning of the year, but it had surged to 0.9% by March 28. The latest figures released by the SBV […]
To read more, please click here.

Lukewarm to gold auctions

With domestic gold prices far higher than world levels, the demand has weakened due to risk aversion. Therefore, there is reason for businesses to...

Water shutdown planned for multiple areas in HCMC

HCMC – The Saigon Water Corporation (SAWACO) has announced a scheduled water shutdown affecting multiple areas of the city from 9:00 p.m. on May...

Real estate firms struggle with huge debt

HCMC – The real estate sector is currently grappling with a significant bond debt, totaling nearly VND350.9 trillion as of March 2024, according to...

Gold prices surge to all-time highs

HCMC – Gold prices soared this morning, May 10, by around VND2.5 million from the day earlier to near VND92 million per tael, the...

Power demand surges amid heatwave

HCMC – The Vietnam Electricity Group (EVN) has projected a sharp rise in electricity demand this May, with average daily consumption reaching 913.6 million...

Local gasoline prices adjusted down

HCMC - The domestic retail prices of fuels were revised down at 3 p.m. today, May 9, according to an announcement jointly released by...

SBV tightens foreign exchange oversight

HCMC – The State Bank of Vietnam (SBV) branch in HCMC has told commercial banks and foreign bank branches to enhance oversight on foreign...

Italy launches US$1.3 billion investment package for Vietnam

HCMC – SACE, Italy's state-owned insurance and financial group, has unveiled a US$1.3 billion aid package aimed at supporting Italian businesses in Vietnam. Vietnam, one...

Latest news

spot_img