Vietnam Central Bank Urges Banks to Cut Deposit Rates to Boost Economy
The State Bank of Vietnam has reiterated its directive for commercial banks to substantially reduce deposit interest rates, aiming to stimulate the economy and expand credit. Banks are required to cut average deposit rates by at least 0.5 percentage points by the end of 2026. The central bank has also indicated potential penalties, such as reduced credit growth targets, for non-compliance.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- Vietnam's National Assembly Debates Revised Real Estate Business Law, Aiming for Market Transparency through Data
Vietnam's National Assembly is debating a revised Real Estate Business Law aimed at enhancing market transparency and management. The draft law seeks fundamental changes through data utilization and integration with land information systems. Establishing unified data standards and clear responsibilities is crucial for its success.
- Vietnam Boosts Logistics Sector with International Partnerships: VinaCapital, A.P. Moller Capital Ink MoU
Vietnam's leading investment firm VinaCapital and infrastructure specialist A.P. Moller Capital have signed an MoU to cooperate in the logistics sector. This move aims to strengthen Vietnam's logistics infrastructure and enhance its international competitiveness amidst its growing importance in global supply chains.
- Vietnam-Denmark Embrace Comprehensive Strategic Partnership, Deepening Cooperation
Vietnam's General Secretary of the Communist Party and President To Lam, meeting with the Danish King, stated that the Comprehensive Strategic Partnership between the two nations will open new horizons for an era of peace, cooperation, and prosperity, built on mutual trust and respect. Enhanced collaboration in economy, green growth, and innovation is anticipated.
- Vietnam's Top Leader Visits EU, Belgium to Boost Economic, Tech Cooperation
Vietnam's Communist Party General Secretary and President To Lam has embarked on official visits to the European Union (EU) and the Kingdom of Belgium. The nations aim to expand cooperation in economy, trade, and investment, with particular interest in sharing EU's experience in quantum technology development.