Interbank interest rates fell to 8.5%.

VTV.vn - Interbank interest rates have shown signs of cooling down compared to 17% last week, but remain pegged at a high level of 8.5%.

Interbank interest rates fell to 8.5%.

According to data from the Vietnam Interbank Market Research Association, compared to the 17.5% level of nearly a week earlier, interbank interest rates have cooled down significantly, but the overall level remains higher than the previous month. Maintaining high interbank interest rates could put pressure on savings and lending rates for individuals and businesses. According to experts, system liquidity has recently been affected by the seasonality of fiscal money flows, as January 31st is the deadline for disbursing public investment for fiscal year 2025, leading to the State Treasury accelerating the withdrawal of funds. In addition, the rising price of gold attracts speculative capital, contributing to short-term system liquidity strain.

According to SSI, the State Bank of Vietnam "responded promptly and proactively," injecting liquidity through open market operations and providing additional support through foreign exchange swaps (FX swaps). As a result, overnight interest rates have cooled down after rising unusually high and are likely to gradually stabilize in the near future.

"Liquidity pressure exists in the context of credit growth exceeding the rate of capital mobilization, but this is a cyclical and short-term phenomenon, not yet reflecting a fundamental change in the macroeconomic foundation. At present, fluctuations in interbank interest rates should be viewed as a technical factor, rather than a signal that economic conditions are deteriorating," an SSI expert commented.

Source: https://vtv.vn/lai-suat-lien-ngan-hang-ve-85-100260212113634144.htm