Fed's decision to keep interest rates steady is positive for Việt Nam's economy

From Vietnam News: 2024-06-16 06:12:00

The US Federal Reserve’s decision to keep interest rates steady is a positive signal for Việt Nam’s economy as the Vietnamese đồng remains stable compared to the US dollar. The State Bank of Vietnam will continue to proactively manage monetary policy to control inflation and support economic recovery. Experts believe the Fed’s move will create excitement for economies, with Việt Nam benefitting from reduced inflationary fears for imports.

An economic growth forecast for 2024 by UOB’s Global Economics and Market Research is optimistic about Việt Nam’s currency market, predicting low interest rates to stay. The State Bank of Vietnam is focused on promoting growth in new areas, green transformation, circular economy, and social housing. The SBV plans to increase credit growth and reduce lending rates through cost-saving measures and digital technology applications.



Read more at Vietnam News: Fed’s latest rate decision won’t have significant impact on Việt Nam