Cooling inflation and good liquidity are the basis for lowering operating interest rates to facilitate loans for customers and have conditions for production and business.
At the seminar "Solutions to open up the capital market" on the morning of March 17, Dr. Nguyen Tri Hieu commented on the recent move of the State Bank, Mr. Hieu said that reducing the operating interest rate at this time was "a bit hasty".
Because the Fed in the past days said it would raise interest rates by 0.25 percentage points, possibly in March, May or the rest of 2023.
Thus, each time the Fed raises interest rates, it will create great pressure on Vietnam's monetary policy, especially the exchange rate issue.
However, sharing at the talk show, Mr. Trinh Quoc Hung, Credit Department of Economic Sector, said that the State Bank of Vietnam (SBV) believes that the inflation situation in the world in 2022 will be very high, but recently it has slowed down, showing signs of inflation. peaking signal.
Cooling inflation and good liquidity are the basis for lowering operating interest rates to facilitate loans for customers and have conditions for production and business.
"Credit growth up to March 17 is about 1%, if compared to 2022, it is lower but not much different from previous years, because of some other important reasons, the first quarter falls on Tet holiday, so after the time off, production and business is slow, capital needs are low," said Mr. Hung.
In addition, the high inflation in the world led to a decrease in orders, affecting Vietnamese businesses, reducing the need for loans, and secondly, due to the impact of COVID-19, many businesses did not meet the requirements. bank loans.
Regarding restructuring, the Government approved Decision 869 to restructure commercial banks and deal with bad debts, this decision has helped commercial banks implement plans and guide banks to handle bad debts.
The State Bank has also reported to all levels to approve the plan to restructure the 3 banks with compulsory purchase.