Experts share mixed sentiments on forex in 2024

Experts share mixed sentiments on forex in 2024

Volatility is likely to continue in the forex market.
Record-low interest rates drive early-year credit growth

Record-low interest rates drive early-year credit growth

Since the beginning of the year, numerous banks have launched attractive credit packages with low interest rates, some even as low as 0% per year, easing the financial burden for customers seeking additional capital, particularly during the time leading up to Tet (Lunar New Year holiday).
Banking sector gets ball rolling on 2024 performance

Banking sector gets ball rolling on 2024 performance

Forecasts for Vietnam from financial institutions are optimistic for this year, primarily due to policies for reducing interest rates and bolstering digitalisation.
ECB to signal no rush to cut interest rates

ECB to signal no rush to cut interest rates

European Central Bank policymakers are expected to keep interest rates steady on Thursday and signal they are in no hurry to start slashing borrowing costs despite progress against inflation.
US Fed rate cuts could come before third quarter: official

US Fed rate cuts could come before third quarter: official

The US Federal Reserve could begin cutting interest rates "sooner than the third quarter" of this year, a voting member of the central bank's rate-setting committee said Thursday.
US Fed 'within striking distance' of inflation target: official

US Fed 'within striking distance' of inflation target: official

The US Federal Reserve is "within striking distance" of reaching its long-term inflation target and could begin cutting interest rates this year, a senior official said Tuesday.
Exchange rates set to put pressure on bank lending

Exchange rates set to put pressure on bank lending

Exchange rate pressures will hinder the declining trend of interest rates in the near future, though when compared to other economies, the devaluation of the VND remains under control.
Borrowers struggle to benefit from new lending policy

Borrowers struggle to benefit from new lending policy

Borrowers are finding it challenging to obtain new loans from banks to settle their existing debts at a different bank, despite the recent implementation of a regulation permitting debt transfer.
Banks roll out credit incentives to boost demand

Banks roll out credit incentives to boost demand

Banks are lowering interest rates to boost demand.
‘Big Four’ slash deposit interest rates to lowest in banking system

‘Big Four’ slash deposit interest rates to lowest in banking system

The four biggest banks in Vietnam have strongly cut interest rates for many deposit terms to the lowest levels of the year.
Vietnamese businesses await relief as SBV slashes interest rates

Vietnamese businesses await relief as SBV slashes interest rates

Vietnamese businesses anticipate some relief as the central bank slashes interest rates, with credit growth expected to accelerate in the second half of 2023.
Standard Chartered forecasts growth slowdown in Q2

Standard Chartered forecasts growth slowdown in Q2

Standard Chartered forecasts Vietnam’s Q2 GDP growth to have slowed since Q1, posing a downside risk to the 6.5 per cent growth forecast for 2023.
Savings interest rate cut to 4.75 per cent

Savings interest rate cut to 4.75 per cent

The State Bank of Vietnam (SBV) has reduced the ceiling interest rate for savings under six months to 4.75 per cent a year, the second reduction in less than a month.
Further fall projected for interest rates

Further fall projected for interest rates

Several banks have followed the State Bank of Vietnam’s (SBV) lead by lowering their base interest rates, aiming to encourage and facilitate increased credit demand within the market.
Vietnam's GDP growth slows in Q1 ahead of expected recovery

Vietnam's GDP growth slows in Q1 ahead of expected recovery

Vietnam's Q1 GDP growth slowed to 3.3 per cent. However, a recovery is anticipated as interest rates decline and the government implements measures to stimulate economic growth.
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