Econ
Rising interest rates in some banks
In the beginning of January, 2017, some banks have slightly higher interest rates around 0.1 to 0.3% / year, the interest rate adjustment takes place only in a small number of joint-stock banks, does not reflect the general trend of the market," reported the State Bank of Vietnam (SBV).
According to the central bank, operating with synchronization, flexible tools of monetary policy of the central bank, especially opening market operation to ensure the liquidity of the system of credit institutions (CIs). Last year, the currency market is stable, interest rates and loan mobilization of the whole system continue to stabilize.
Synthesis of the SBV shows that the current deposit interest rates from 0.8 to 1%/ year for non-term deposits and term deposits of less than 1 month; 4.5 to 5.4%/year for deposits with terms of 1 month to less than 6 months; 5.4 to 6.5% / year for deposits with a term of 6 months to less than 12 months; maturity of over 12 months at 6.4 to 7.2%/year. Interest rate levels are common in 6-7%/year for the priority areas, the interest rate for loans to the business sector typically produce from 6.8 to 9% level/year for short; 9.3 to 11%/year for the medium and long term. For good customer groups, a healthy financial situation, transparent, short-term lending interest rates is of 4-5%/year.
In the coming time, the central bank will continue operating synchronized monetary policy tools to regulate liquidity rational interest operators in line with macroeconomic developments, currency in order to strive for steady interest rates. Directing the capital credit balance to stabilize interest rates, reducing operational costs and improving efficiency and business to be able to cut lending rates in order to share difficulties with the borrower but to ensure financial safety in operation.
Orientation in 2017, the central bank continues operating consistently proactive monetary policy, flexible and close coordination with fiscal policy and macro-economic policies, aimed at controlling differential inflation according to its objectives (average about 4%), macro-economic stability, contributing to support economic growth at a reasonable level (about 6.7%), ensuring the liquidity of credit institutions, money market stability. Orientation total means of payment increased by about 16-18%; Credit increased by 18%, adjusted in line with developments, the actual situation.
