Proactive, flexible monetary policy management to meet capital demand

Deputy Prime Minister Ho Duc Phoc chaired a meeting of the National Financial and Monetary Policy Advisory Council on August 7.

Deputy Prime Minister Ho Duc Phoc chairs the meeting of the National Financial and Monetary Policy Advisory Council. (Photo: VNA)
Deputy Prime Minister Ho Duc Phoc chairs the meeting of the National Financial and Monetary Policy Advisory Council. (Photo: VNA)

The deputy PM requested the State Bank of Viet Nam, the Ministry of Finance, and relevant ministries and sectors to fully take into account the discussions in formulating and implementing plans and solutions for monetary policy management in the coming period. He stressed the need to focus on finalising legal documents as scheduled, including institutional frameworks related to the management of the gold market.

The agencies were instructed to manage monetary policy in a proactive, flexible, timely, and effective manner, in line with macroeconomic developments and set objectives; and to ensure close, harmonious, and synchronised coordination with fiscal policy and other macroeconomic policies. The move is aimed at fostering growth, maintaining macroeconomic stability, safeguarding the major balances of the economy, and meeting the capital needs for production and business activities of the public and enterprises.

The deputy PM underscored the importance of maintaining high credit quality and directing capital flow into priority sectors, with a focus on effectively implementing credit packages related to social housing development, innovation, digital transformation, and science and technology.

NDO
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