As credit growth is losing steam, most banks have lowered borrowing rates to reduce the capital cost and enable themselves to cut lending rates in the coming time. However, the sharp fall in deposit rates at the Big Four banks hints at a wider policy maneuver for the monetary authority. Collision course The U.S. dollar has strengthened substantially in August, with the reference rate being revised up by VND202 as of August 28 against that in late July, which is the sharpest monthly rise since October 2022 (when the forex […]
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