Lending rates have dropped by 0.6%
In a report recently sent to the National Assembly on the implementation of the National Assembly's Resolution on interpellation, the Governor of the State Bank said that over the past time, the State Bank has continued to maintain low operating interest rates to guide the market to reduce lending interest rates to support businesses and people, while continuing to direct credit institutions to reduce operating costs, increase the application of information technology, digital transformation and other solutions to strive to reduce lending interest rates. The State Bank has also worked directly and issued an official dispatch directing the entire system of credit institutions to stabilize deposit interest rates and reduce lending interest rates to contribute to promoting economic development.
By April 10, 2025, the average lending interest rate for new transactions of commercial banks will be 6.34%/year, down 0.6%/year compared to the end of 2024.
 |
In particular, the exchange rate and foreign exchange market have recently been under great pressure, multi-dimensional and rapidly changing due to unpredictable international economic and political developments, especially the US government's tariff policy, and the rapid fluctuations of the international USD, putting pressure on currencies.
In that context, the State Bank flexibly manages exchange rates, coordinates monetary policy tools (regulating liquidity, interest rates) and intervenes when necessary to stabilize the foreign exchange market, contributing to stabilizing the macro economy and controlling inflation. As a result, the foreign exchange market remains stable, foreign exchange liquidity is smooth, the legitimate foreign currency needs of the economy are fully and promptly met; the VND exchange rate increases/decreases in both directions, in line with the general trend of international currencies compared to the USD.
As of April 22, 2025, the VND/USD exchange rate is trading around 25,896 VND/USD, an increase of 1.64% compared to the end of 2024.
Interest rates will be under pressure in the coming time.
Although monetary policy has been stable in recent times, the State Bank said many challenges lie ahead.
Inflation has potential to increase in the context of the large openness of Vietnam's economy, fluctuations in world commodity prices due to the impact of complex geopolitical developments, increasing trends in trade protectionism, food security in countries, roadmap for adjusting prices of state-managed goods and services, climate change and extreme weather events, etc.
Interest rates will be under pressure in the coming time due to a number of reasons: Lending interest rates have tended to decrease sharply in recent times; Demand for credit capital for production, business and consumption is expected to increase strongly in the coming time to meet the economic growth target in 2025, while capital mobilization of the entire credit institution system may be affected and compete with other investment channels (such as real estate, stock market); World interest rates tend to decrease but remain high and the global financial market is unpredictable after the US announced its reciprocal tax policy.
The State Bank also assessed that the exchange rate and foreign exchange market in the coming time are likely to continue to be under great pressure from complex factors in the international market (the Trump Administration's tariff policies are expected to have a negative impact on the global economy; the unpredictable monetary policy roadmap of the US Federal Reserve (Fed); geopolitical developments, commodity price shocks, etc.) and domestic difficulties (the difference in VND and USD interest rates, the economy's demand for foreign currency remains high, etc.).
Source: https://baodautu.vn/lai-suat-se-chiu-suc-ep-do-tien-gui-dang-bi-canh-tranh-boi-chung-khoan-bat-dong-san-d277248.html
Comment (0)