Despite numerous challenges and difficulties at certain points, monetary policy in 2024 was oriented towards loosening, with positive credit growth and stable policy rates. Will this trend continue into 2025? Pressures in 2024 Rising gold prices, a strong U.S. dollar, the cryptocurrency frenzy led by Bitcoin, geopolitical tensions and military conflicts in the Middle East, as well as the impact of the U.S. presidential election, piled significant pressures on foreign exchange markets and monetary policy. Despite these pressures, the stable maintenance of policy rates throughout 2024 marks a success for Vietnam’s monetary policy. However, commercial banks showed a more immediate reaction, with deposit rates beginning to trend upward from the start of Q2 2024. By mid-December, the average deposit rate of 35 domestic banks for terms of 1–11 months had increased by 0.72 percentage point compared to the end of Q1. For 12-month terms, the rise was 0.6 percentage point, and for terms over 13 months, it rose by 0.31 percentage point. Nevertheless, current deposit rates are only equivalent to or slightly higher than levels at the end of 2023. In addition to the impact of the dollar spike and the stronger performance of other asset channels reducing the appeal […]
Despite numerous challenges and difficulties at certain points, monetary policy in 2024 was oriented towards loosening, with positive credit growth and stable policy rates. Will this trend continue into 2025? Pressures in 2024 Rising gold prices, a strong U.S. dollar, the cryptocurrency frenzy led by Bitcoin, geopolitical tensions and military conflicts in the Middle East, as well as the impact of the U.S. presidential election, piled significant pressures on foreign exchange markets and monetary policy. Despite these pressures, the stable maintenance of policy rates throughout 2024 marks a success for Vietnam’s monetary policy. However, commercial banks showed a more immediate reaction, with deposit rates beginning to trend upward from the start of Q2 2024. By mid-December, the average deposit rate of 35 domestic banks for terms of 1–11 months had increased by 0.72 percentage point compared to the end of Q1. For 12-month terms, the rise was 0.6 percentage point, and for terms over 13 months, it rose by 0.31 percentage point. Nevertheless, current deposit rates are only equivalent to or slightly higher than levels at the end of 2023. In addition to the impact of the dollar spike and the stronger performance of other asset channels reducing the appeal […]
Despite numerous challenges and difficulties at certain points, monetary policy in 2024 was oriented towards loosening, with positive credit growth and stable policy rates. Will this trend continue into 2025? Pressures in 2024 Rising gold prices, a strong U.S. dollar, the cryptocurrency frenzy led by Bitcoin, geopolitical tensions and military conflicts in the Middle East, as well as the impact of the U.S. presidential election, piled significant pressures on foreign exchange markets and monetary policy. Despite these pressures, the stable maintenance of policy rates throughout 2024 marks a success for Vietnam’s monetary policy. However, commercial banks showed a more immediate reaction, with deposit rates beginning to trend upward from the start of Q2 2024. By mid-December, the average deposit rate of 35 domestic banks for terms of 1–11 months had increased by 0.72 percentage point compared to the end of Q1. For 12-month terms, the rise was 0.6 percentage point, and for terms over 13 months, it rose by 0.31 percentage point. Nevertheless, current deposit rates are only equivalent to or slightly higher than levels at the end of 2023. In addition to the impact of the dollar spike and the stronger performance of other asset channels reducing the appeal […]
The United Kingdom’s (UK) entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) marks a new era in its trade and investment...
Entering the North American market provides immense opportunities for Vietnamese businesses, but it also comes with significant challenges. Rather than broad marketing approaches, experts...
As the year 2024 is out, Vietnam's stock market navigated a year of notable developments. Despite significant pressures, such as net foreign investor withdrawals,...
Controlling your blood pressure does not necessarily mean restricting the use of salt. Instead, you should do more physical exercises and live a more...
Unusual exchange rate movements in recent times reflect the shifting expectations on the monetary policy by the U.S. Federal Reserve (Fed) and declining foreign...
The real estate market in 2025 will facing a transformative phase as newly enacted laws bring opportunities and challenges. While stricter regulations enhance consumer...
The overall balance of payments showed a more positive trend in the third quarter of 2024, with the deficit narrowing significantly. However, persistent challenges...
Free trade zones (FTZs) act as vital hubs for cross-border trade, optimizing supply chains, and fostering international cooperation. What other benefits can this model...