According to the Governor, the liquidity of credit institutions remains good and redundant. However, the market was affected by psychological factors and complicated movements of the world economy in October. In Ffaceingd with that situation, the State Bank quickly and promptly performed its regulatory role to support the system’s liquidity.
The State Bank also held a number of meetings with commercial banks to jointly assess and identify bottlenecks of in the market, thereby having determining appropriate solutions. All commercial banks have ensured operational safety indicators in accordance with regulations of the State Bank.
However, in order to proactively respond to the complicated fluctuations of the world and domestic economy, credit institutions themselves need to proactively have solutions to ensure the security of the system. The State Bank is also ready to provide liquidity support to ensure the solvency of credit institutions, especially at the end of the year.
Regarding the currency and foreign exchange markets, the Governor said that not only Vietnam but all countries in the world are seeing the pressure on the currency market and foreign exchange market as we are deep in a deeply economic integration.
Under the direction of the Government, the State Bank and other ministries have proactively and flexibly offered solutions to respond to market developments, thus contributing to stabilising the macro-economy as well as the currency and foreign exchange markets.
Hong noted that the Prime Minister has been directing the promotion of public investment and expansionary fiscal policy, which will reduce pressure on the currency and credit on the banking system. Solutions to that enhance trade promotion, export and investment also contribute to improving foreign currency supply and demand of foreign currency and reducing pressure on the exchange rate.
The Governor added that the State Bank of Vietnam will actively monitor the market situation to operate appropriately in accordance with the realities and characteristics of the Vietnamese economy.
In addition, it will coordinate with other macro-economic policies in of the Government policies to realise the goal of stabilising the macro-economy, controlling inflation, and ensuring social security.According to the Governor, the liquidity of credit institutions remains good and redundant. However, the market was affected by psychological factors and complicated movements of the world economy in October. In Ffaceingd with that situation, the State Bank quickly and promptly performed its regulatory role to support the system’s liquidity.
The State Bank also held a number of meetings with commercial banks to jointly assess and identify bottlenecks of in the market, thereby having determining appropriate solutions. All commercial banks have ensured operational safety indicators in accordance with regulations of the State Bank.
However, in order to proactively respond to the complicated fluctuations of the world and domestic economy, credit institutions themselves need to proactively have solutions to ensure the security of the system. The State Bank is also ready to provide liquidity support to ensure the solvency of credit institutions, especially at the end of the year.
Regarding the currency and foreign exchange markets, the Governor said that not only Vietnam but all countries in the world are seeing the pressure on the currency market and foreign exchange market as we are deep in a deeply economic integration.
Under the direction of the Government, the State Bank and other ministries have proactively and flexibly offered solutions to respond to market developments, thus contributing to stabilising the macro-economy as well as the currency and foreign exchange markets.
Hong noted that the Prime Minister has been directing the promotion of public investment and expansionary fiscal policy, which will reduce pressure on the currency and credit on the banking system. Solutions to that enhance trade promotion, export and investment also contribute to improving foreign currency supply and demand of foreign currency and reducing pressure on the exchange rate.
The Governor added that the State Bank of Vietnam will actively monitor the market situation to operate appropriately in accordance with the realities and characteristics of the Vietnamese economy.
In addition, it will coordinate with other macro-economic policies in of the Government policies to realise the goal of stabilising the macro-economy, controlling inflation, and ensuring social security.
